Business News - 12 September 2025

Economic Overview

South Africa’s rand strengthened over the past week. It gained against the US dollar, improving from roughly R17.7/$ at the week’s start to about R17.4/$ by week-end. The currency also firmed versus the euro (from around R20.8/€ to R20.5/€) and the British pound (from about R23.9/£ to R23.6/£). In short, the rand appreciated against all three major currencies over the 7-day period.

Several factors supported the rand’s rise. Globally, the dollar softened amid hopes that US interest rates may ease soon, and a rebound in gold prices boosted commodity-linked currencies. Locally, confidence was bolstered by positive energy news – Eskom (the state power utility) announced it expects no load-shedding (electricity cuts) during the coming summer months, thanks to improved power plant performance. With inflation steady and interest rates unchanged since the July cut, the week saw the rand benefit from a mix of a friendlier global backdrop and encouraging domestic developments.

Anglo American in $53 Billion Mining Merger

London-headquartered mining giant Anglo American – which has deep South African roots – announced a landmark deal to merge with Canada’s Teck Resources. The proposed all-share merger (forming a combined company called Anglo Teck) is valued at about $53 billion, making it one of the largest mining deals ever. Anglo shareholders will own roughly 62% of the new entity, with Teck shareholders holding 38%.

This merger will create a global heavyweight focused on “future-facing” metals, especially copper, which is in high demand for electric vehicles and clean energy technology. Anglo and Teck each bring a portfolio of copper, iron ore, and zinc assets, and together they aim to capitalize on the growing need for these resources. The combined company will be based in Canada (with a London listing) and is expected to achieve significant cost savings over time. For South Africa, where Anglo American was founded, the move underscores how local mining firms are evolving and partnering at a global scale to remain competitive in the shift toward minerals of the future.

Walmart to Open Stores in South Africa

Global retail giant Walmart is set to launch its first-ever Walmart-branded stores in South Africa by the end of 2025. Walmart, which gained full ownership of local retailer Massmart in 2023, announced that it will open several large-format stores under the “Walmart” name – without replacing Massmart’s existing Game, Makro, or Builders chains. The new stores will carry a broad range of merchandise, including groceries, household essentials, electronics, apparel and more.

Walmart says it plans to source many products locally while bringing its signature everyday low pricing model to the South African market. The move follows a company “Growth Summit” in April where Walmart recruited African suppliers and affirmed its long-term commitment to the region. The first Walmart outlets are expected to open before the holiday season, with exact locations to be announced. This expansion not only adds a new heavyweight competitor to the retail sector, but also signals confidence in South Africa’s consumer market – promising shoppers wider choice, lower prices, and new opportunities for local producers through Walmart’s supply chain.

Vodacom Investing R435 Million in Network Upgrades

Vodacom, South Africa’s leading mobile operator, is pouring R435 million into expanding and upgrading its network in the northern Gauteng region. The investment, allocated for the 2025/26 financial year, will fund new cellular sites and technology improvements aimed at boosting coverage and data speeds. In particular, Vodacom plans to roll out over 190 new 5G towers across parts of Gauteng and North West provinces, while also enhancing 4G capacity using newly available low-band spectrum (700 MHz) for better rural coverage.

A key goal of this project is to extend fast internet access to underserved communities. For example, Vodacom will bring broadband for the first time to areas like Ikagaleng township near Zeerust, where residents could soon enjoy download speeds up to 350 Mbps. Vodacom’s Northern Gauteng managing executive, Christo De Wet, said the upgrades are about “empowering communities through connectivity” – enabling more people to participate in the digital economy with reliable, high-speed internet. By year’s end, many Gauteng residents and businesses should notice stronger signals, quicker connections, and broader network reach, as Vodacom’s investment supports South Africa’s digital transformation and helps close the connectivity gap in historically under-connected areas.

Binance and Zapper Enable Crypto Payments for 31,000 Merchants

Cryptocurrency is becoming more practical in South Africa thanks to a new tie-up between Binance Pay and local payment platform Zapper. Binance, the world’s largest crypto exchange, has partnered with Zapper to let South Africans pay with crypto at over 31,000 Zapper-affiliated merchants across the country. This means that shoppers can use the Binance Pay feature on their smartphones to spend Bitcoin or other cryptocurrencies via Zapper’s ubiquitous QR code system at stores, restaurants, fuel stations and more.

The integration makes paying with crypto as easy as scanning a code – effectively turning digital coins into an everyday payment option. Binance Pay supports over 100 different cryptocurrencies and converts the crypto to rand for the merchant instantly. For consumers, it offers a novel cashless alternative; for businesses, it opens access to the growing base of crypto users without needing new hardware. Binance’s South Africa team says the goal is to give people “freedom and flexibility in how they spend their money”, bringing crypto into routine daily purchases. This partnership, one of Binance Pay’s largest merchant rollouts to date, reflects a broader trend of financial technology innovation in South Africa – blending global digital currency platforms with local payment networks to drive convenience and choice.

Discovery Bank Achieves First Profit as Digital Growth Soars

South Africa’s Discovery Bank, launched a few years ago as a digital-only bank, has reached a major milestone: it turned profitable for the first time. Discovery Bank moved into the black in the second half of its 2025 financial year, recording its first-ever profit ahead of the schedule initially projected by management. This marks the end of its start-up investment phase and the beginning of scaled growth for the bank, which is part of the Discovery financial services group.

The improved performance has been driven by surging customer uptake and activity. Over the past year, Discovery Bank’s client base grew by about 30%, accompanying sharp rises in deposits (up 26%) and loan volumes (up 39%) as more South Africans embraced its digital-first offerings. These gains powered double-digit revenue growth and helped push the bank into profit. Executives attribute the success to Discovery’s unique rewards model – integrating the bank with Discovery’s Vitality program to incentivize good financial habits – as well as strong capital buffers that have kept the bank stable and well-regulated. Now profitable, Discovery Bank plans to expand further into lending and deepen its links with Discovery’s insurance and investment products. Its breakthrough reflects how innovative, branch-free banking – backed by a trusted brand and loyalty rewards – is maturing in South Africa’s financial landscape.

Eskom Expects a Summer of No Load-Shedding

In a welcome development for businesses and households alike, Eskom has announced that it does not anticipate any power cuts this summer. The state-run electricity utility said that barring unforeseen breakdowns, it has sufficient generating capacity and maintenance headroom to avoid load‑shedding (scheduled outages) during the Southern Hemisphere summer period from September 2025 through March 2026. This is a dramatic turnaround from prior years – last summer, blackouts occurred on only 13 days, down from 176 days the year before, as Eskom’s plant performance improved significantly.

Eskom’s new CEO, Dan Marokane, noted that unplanned generation losses have fallen well below critical thresholds due to better upkeep and repairs, giving the utility confidence that it can meet demand in the coming months. The company has entered summer with a healthy reserve margin, allowing it to proceed with necessary maintenance without cutting power to consumers. This optimistic outlook is a relief for South Africa’s economy – persistent power outages in past years have hurt production, investor sentiment, and daily life. If Eskom delivers on this no load‑shedding promise, it could boost business confidence and growth, especially as the country heads into the busy holiday season. Many challenges remain for Eskom (aging infrastructure and high debt), but the prospect of a stable electricity supply through summer is a bright spot that could spur economic activity and public morale.

Standard Bank Names New South Africa CEO

Standard Bank, the continent’s largest bank by assets, has appointed a new chief executive for its South African division. The bank announced that David Hodnett will take over as CEO of Standard Bank South Africa (SBSA), pending regulatory approval. Hodnett is a veteran leader within Standard Bank Group – he currently serves as the group’s Chief Risk Officer and has over 30 years of experience in financial services. He will step into the SBSA CEO role to steer the bank’s South African operations, while Sim Tshabalala continues as CEO of the overall Standard Bank Group.

This leadership change is part of Standard Bank’s succession planning as it strengthens its executive team. By elevating an internal candidate like Hodnett, who has deep institutional knowledge, the bank ensures continuity in its strategy and culture. Standard Bank highlighted Hodnett’s extensive expertise in risk management, corporate banking, and leadership across multiple departments as key assets in his new role. Alongside this move, the group also announced other senior appointments – including a new Group Chief Risk Officer (Thabani Ndwandwe) to succeed Hodnett, and confirmation of a permanent CEO for its Africa regions business. These changes demonstrate Africa’s biggest bank positioning itself for sustained growth: reinforcing its leadership bench and signaling to investors that it has a solid plan for the future as its long-standing executives gradually hand over the reins.

Nissan Plans Hybrid Cars to Bridge South Africa’s EV Gap

Japanese automaker Nissan is exploring the rollout of its innovative e‑Power hybrid vehicles in South Africa as a stepping stone toward full electric cars. Nissan’s e‑Power technology uses a small petrol engine to charge an electric motor, which in turn drives the car – offering an electric driving experience without needing external charging. A Nissan Africa executive confirmed this week that the company is studying the introduction of e‑Power hybrid models locally to help South African drivers gradually transition from traditional petrol cars to electrified vehicles.

The move comes as South Africa’s shift to pure electric vehicles (EVs) has been slow, due to high EV costs and scarce charging infrastructure. Nissan believes its hybrid approach is well-suited to Africa, because e‑Power cars don’t require extensive charging networks and eliminate “range anxiety” for drivers. The petrol engine acts as a generator, so users can fuel up normally while the car’s electric motor provides efficient, battery-powered motion. Nissan has already launched e‑Power models in markets like Egypt, Morocco and Tunisia, and sees potential in South Africa if market conditions (such as fuel prices, import duties and consumer interest) are favorable. At a launch event for two new Nissan SUVs in Johannesburg, company officials reiterated that Nissan remains committed to the South African market even as it undergoes a global restructuring. Introducing hybrids here could bolster Nissan’s sales and prepare customers for an electric future – all while sidestepping the current infrastructure hurdles to EV adoption.

Bootlegger Coffee Takes Flight with FlySafair Partnership

Fast-growing local coffee chain Bootlegger Coffee Company is extending its reach to the skies. Bootlegger has sealed a partnership with low-cost airline FlySafair to serve its beverages on all FlySafair domestic flights. Starting 17 September, passengers will be able to enjoy Bootlegger’s signature hot drinks – from Americano and cappuccino to chocolate lattes and specialty teas – as part of the in-flight menu. The deal gives Bootlegger access to FlySafair’s 1.8 million yearly passengers, massively broadening the coffee brand’s exposure beyond its network of cafés.

For Bootlegger, which began in Cape Town in 2012 and has since grown to over 80 stores nationwide, the collaboration is a strategic push into new markets. It allows the company to diversify its brand presence and capture customers on the move – effectively turning airplane cabins into new “branches” for the coffee vendor. “FlySafair’s strong passenger volumes create immediate scale for our brand,” noted Bootlegger’s marketing head, highlighting that this home-grown partnership opens up fresh revenue streams while supporting a fellow South African business. FlySafair, in turn, gets to elevate its on-board experience by offering a premium local coffee to travelers. The airline’s marketing chief said Bootlegger’s quality and rapid growth made it an ideal fit for enhancing service while championing a South African brand. This tie-up exemplifies a win-win approach: Bootlegger can scale up brand awareness nationally, and FlySafair differentiates its offering with a beloved local flavor – all as domestic air travel rebounds to near pre-pandemic levels.

Shoprite Hits Record R250 Billion in Sales

South Africa’s biggest retailer, Shoprite Holdings, announced robust results with annual sales now exceeding R250 billion for the first time. In its financial report for the year ended June 2025, Shoprite’s CEO Pieter Engelbrecht celebrated the milestone, noting that the group’s revenue grew by over R20 billion from the prior year despite a tough consumer environment. A key factor was Shoprite’s aggressive price strategy: the supermarket chain kept internal food price inflation to only about 2.3%, deliberately absorbing costs to shield customers from higher prices. In fact, Shoprite says it “gave back” R16.5 billion in discounts and savings at the checkout, helping budget‑stretched shoppers afford essentials.

Even with slimmer margins on some products, Shoprite expanded its market share and grew sales volumes, demonstrating the success of prioritizing value for customers.

The company also continued to innovate – for example, it rolled out a new Checkers online shopping website and enhanced its popular Sixty60 on-demand grocery delivery service, whose sales jumped nearly 48% to R18.9 billion. Shoprite’s results show a retailer in growth mode: it opened 223 new stores during the year (across its Shoprite, Checkers, Usave, and LiquorShop formats) and created thousands of jobs in the process. By focusing on low prices, convenient digital services, and store expansion, Shoprite managed to lift its performance while many consumers felt economic pressure. The record R250 billion turnover underscores Shoprite’s position as a dominant player in South African retail, one that is leveraging its scale to benefit both customers and shareholders.

Conclusion

In summary, this week’s stories highlight South African businesses forging ahead through innovation and strategic moves. We saw giant corporates pursuing bold mergers and expansions – from a mining megadeal reshaping a global player, to Walmart’s entry shaking up local retail. At the same time, companies are embracing technology and partnerships: telecoms investing in faster connectivity, banks and fintechs driving digital payments, and even a home-grown coffee chain teaming with an airline to reach new customers. Leadership changes in finance and efforts to improve infrastructure (like Eskom’s power outlook) show a focus on adapting and strengthening operations in a challenging environment.

Across industries, the common theme is resilience and forward-thinking – whether it’s leveraging automation, venturing into new markets, or keeping prices affordable to retain consumers. South African business leaders are actively seeking growth opportunities and collaborations that can give them an edge. As these developments unfold, Trends & Insights will continue to track the practical impact on our economy and everyday entrepreneurs. Stay tuned for next week’s roundup of useful business updates – and remember to subscribe to Trends & Insights for your weekly dose of clear, business-focused news that helps you stay ahead.