Latest news with #JohannesburgStockExchange
Business Insider
2 days ago
- Business
- Business Insider
South Africa secures breakthrough G20 consensus as global economic uncertainty mounts
South Africa secured a rare consensus among G20 finance ministers and central bank governors, concluding a two-day meeting with a joint communique, the first since October 2024. South Africa achieved a rare consensus among G20 ministers, culminating in a jointly issued communique. The agreement was made notwithstanding the absence of key delegates and addressed significant global economic challenges. Financial markets in South Africa, including the rand and stock indices, positively responded to the announcement. The agreement, reached despite the absence of the U.S. Treasury Secretary, came as investors responded positively to the outcome, boosting South African assets. Held in Durban under South Africa's presidency, the meeting concluded on Friday with a statement addressing macroeconomic challenges, central bank independence, and multilateral cooperation. The communique comes at a time of heightened uncertainty in the global economy, amid ongoing conflicts, trade tensions, and extreme weather events. G20 backs joint communique in diplomatic win for South Africa The market reaction was immediate. The rand rose roughly 0.6% to trade at 17.7050 against the U.S. dollar. The Johannesburg Stock Exchange's Top-40 index climbed 1.5%, while the broader All-Share index gained 1.4%, nearing an all-time high. The rally was largely driven by mining stocks, with Gold Fields up 2%, Harmony Gold up 1%, and Sibanye Stillwater rising by 4%. South Africa's benchmark 2035 government bond also advanced, with the yield easing 1.5 basis points to 9.945%. The communique was adopted under the presidency theme 'Solidarity, Equality, Sustainability.' In previous G20 meetings where consensus could not be achieved, only a summary or chair's statement was issued. This time, all members agreed on the final statement. South Africa's Deputy Finance Minister David Masondo confirmed it was 'consented to by all members' and focused on 'strategic macroeconomic issues.' The joint statement emphasized the importance of central bank independence, with the G20 reaffirming that monetary policy decisions should remain data-dependent and aligned with central banks' respective mandates. This emphasis followed concerns raised at the meeting over the U.S. President Trump's repeated criticism of Federal Reserve Chair Jerome Powell, which had unsettled financial markets. Global economic challenges and delicate diplomacy Though broad in scope, the communique avoided divisive specifics. It mentioned 'ongoing wars and conflicts' but did not refer directly to Russia's invasion of Ukraine or the conflict in Gaza. Similarly, while it acknowledged 'extreme weather events and natural disasters' as economic challenges, it made no explicit reference to climate change. The statement also recognized the role of the World Trade Organisation in advancing trade issues, while calling for reform of the body. It did not use the word 'tariff,' despite planned U.S. trade measures set to take effect on August 1. These include broad baseline levies and additional duties on over 20 countries. At just over 2,000 words, the communique was shorter than its October 2024 predecessor but was still seen as a meaningful achievement. South Africa's Finance Minister Enoch Godongwana said, 'To achieve what we have done in this environment, I take it as a huge success.' Josh Lipsky of the Atlantic Council added that its issuance showed momentum ahead of the United States assuming the G20 presidency in December.
IOL News
2 days ago
- Business
- IOL News
Point of view: JSE warns of deepfake videos impersonating financial leaders
South Africans are facing a new wave of online scams involving deepfake videos that impersonate trusted financial figures. The JSE has issued a warning, urging the public to remain vigilant and informed about these fraudulent schemes. Image: Nicola Mawson / Independent Newspapers South Africans are no strangers to online scams. From dodgy emails promising instant riches to fake investment groups on WhatsApp, we've seen them all. But a new scam is doing the rounds that should have everyone on high alert. This time, it's not just fake profiles or phony schemes. It's deepfake videos, disturbingly realistic clips using artificial intelligence to impersonate some of the most trusted figures in the country's financial sector. The Johannesburg Stock Exchange (JSE) has issued an urgent warning after videos began circulating on Facebook and other platforms, falsely featuring their Group CEO, Dr Leila Fourie, and Mark Randall, Director of Information Services. In these manipulated clips, the executives appear to be promoting fraudulent investment schemes. They are not. These videos are complete fabrications, designed to mislead and defraud the public. Let's be absolutely clear: these videos are scams. They are not endorsed by the JSE, and the people featured in them have had their likenesses and voices digitally manipulated without consent. It's a chilling reminder of how sophisticated digital fraud has become, and just how vulnerable everyday South Africans are if we're not paying attention. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ The JSE is working with social media platforms to have the videos removed, but once this sort of content is out there, it's difficult to contain. The responsibility, then, doesn't just lie with the platforms or the regulators. It also lies with us, the public. We need to be sharper, more cautious, and far less trusting of unsolicited messages or investment offers online. Here's what everyone needs to know: no one at the JSE – not the CEO, not directors, not employees – will ever give you investment advice. Not in person, not via email, and certainly not over WhatsApp, Telegram, or Facebook. The JSE does not operate on those platforms, nor does it request personal information or financial contributions via social media. If someone is using the JSE's name or logo in a WhatsApp or Telegram group, that's a major red flag. You should leave the group immediately and report it. If you're serious about investing, there's only one safe route: through a verified JSE member or broker. The full list of authorised brokers is available on the official JSE website ( under the 'Find a Broker' section. If it's not on that list, it's not legit. And while we're on the topic, the rise of these deepfake scams also highlights the broader challenge of misinformation in our digital age. With AI tools becoming more accessible, it's now possible for bad actors to create convincing fake content that can easily trick even the most cautious among us. If someone seems too confident, too convincing, or too insistent that you invest now, that should set off alarm bells. To help the public stay informed, the JSE has also set up a Fraud and Scams Prevention section on its website, which is updated regularly. It's worth checking out, especially if you've received suspicious messages or seen unusual social media activity related to the JSE. The public is also encouraged to report suspicious activity directly to the JSE via email at info@ or ipfraud@ or by calling 011 520 7000. At the end of the day, the best defence against scams is education. Talk to your friends, your parents, your colleagues. Share this information widely. The more people know, the harder it becomes for scammers to succeed. We can't stop scammers from trying – but we can stop them from succeeding. Stay informed. Stay sceptical. And most importantly, stay safe. * Maleke is the editor of Personal Finance. PERSONAL FINANCE
Reuters
3 days ago
- Business
- Reuters
South Africa's assets gain as it concludes G20 finance meeting with communique
JOHANNESBURG, July 18 (Reuters) - South Africa's rand, government bonds and stocks gained on Friday as investors mulled over the country's hosting of a two-day Group of 20 finance meeting where participants agreed a final communique, the first since October 2024. South Africa, under its presidency's motto "Solidarity, Equality, Sustainability", has aimed to promote an African agenda, with topics including the high cost of capital and funding for climate change action. A communique indicates that G20 finance leaders have reached consensus on at least some key issues. At 1503 GMT, the rand traded at 17.7050 against the U.S. dollar , up roughly 0.6% on Thursday's close. The Johannesburg Stock Exchange's Top-40 index (.JTOPI), opens new tab was last up 1.5% and the wider All-Share index (.JALSH), opens new tab up 1.4%, hovering around an all-time high. Anchor Capital said in a research note that the local bourse was largely helped by mining sector stocks. Shares in Gold Fields were last up 2%, with Harmony Gold up 1%, and Sibanye Stillwater up 4%. The meeting of G20 finance ministers and central bank governors stressed the importance of central bank independence and multilateralism as they sealed the communique, ahead of U.S. President Donald Trump's August 1 deadline for country-specific tariffs. Domestic investor focus next week will be on South Africa's May business cycle leading indicator (ZALEAD=ECI), opens new tab and June consumer inflation data (ZACPIY=ECI), opens new tab for clues about the health of Africa's most industrialised economy. "(Inflation data) is unlikely to do much for the performance of the ZAR, given that the rates markets have already moved to price out the prospect of more than one more rate cut," ETM Analytics said in a research note. South Africa's benchmark 2035 government bond also edged up, as the yield fell 1.5 basis points to 9.945%.
Business Recorder
3 days ago
- Business
- Business Recorder
South Africa's rand and stocks gain as G20 finance meeting nears conclusion
JOHANNESBURG: South Africa's rand and stocks gained on Friday as investors turned their attention to the final day of the two-day Group of 20 finance meeting, which South Africa, the first African host nation, hopes to conclude with a formal communique. A communique would indicate that the G20 finance leaders have reached consensus on at least some key issues. At 1105 GMT, the rand traded at 17.7050 against the U.S. dollar, up roughly 0.6% on Thursday's close. The Johannesburg Stock Exchange's Top-40 index was last up 1.4%. The meeting of G20 finance ministers and central bank governors will continue on Friday, with tariffs, debt relief and climate resilience being the core topics debated so far. On the broader agenda, South Africa's Treasury Director General Duncan Pieterse said the G20 hoped to issue the first communique under the country's presidency by the end of the meetings. South African rand steady before retail sales data Canada's finance minister Francois-Philippe Champagne also told Reuters he was cautiously optimistic that a final communique would be agreed, but that the G20 of large developed and developing countries needed to send a clear message. Domestic investor focus next week will be on the country's May business cycle leading indicator and June consumer inflation data for clues about the health of Africa's most industrialised economy. '(Inflation data) is unlikely to do much for the performance of the ZAR, given that the rates markets have already moved to price out the prospect of more than one more rate cut,' ETM Analytics said in a research note. South Africa's benchmark 2035 government bond was weaker, as the yield rose 2.5 basis points to 9.985%.
IOL News
5 days ago
- Business
- IOL News
Dr Iqbal Survé: The Struggle Doctor Who Became a Global Voice for Justice and Transformation
In a world where leadership often falters, Dr Iqbal Survé emerges as a beacon of hope, advocating for economic justice and a new vision for South Africa. How does his journey redefine the essence of true leadership? Image: Independent Media In a world choking on crisis and crippled by false messiahs, principled leadership has become the rarest currency. Dr Iqbal Survé is not a politician, nor does he play to galleries. He is a product of the Struggle, a doctor of the people, and one of the few post-apartheid figures who understood early that freedom without economic justice is a betrayal. In an era where ego masquerades as leadership, Dr Survé represents something dangerously uncommon, clarity of purpose, moral courage, and the spine to act when it matters most. South Africa, like much of the world, is trapped in a leadership vacuum, where opportunism has replaced vision, and moral conviction has been traded for political convenience and infighting, staggering youth unemployment, and a stalled economy have bled South Africa of its promise and left public trust in ruins. In such a climate, surrendering to despair becomes the easy choice, the default setting. But Dr Iqbal Survé refuses that descent. His life stands as a defiant counter-narrative, one that rejects passivity, demands purpose, and redefines what post-liberation leadership should be: morally unshakable, future-focused, and anchored in the real work of rebuilding a broken nation Having witnessed apartheid's brutality up close, treating the tortured, the broken, the forgotten, Dr Iqbal Survé didn't retreat when political freedom was declared. He understood that the real struggle was only beginning. So, he pivoted with fierce intent toward economic justice, stepping into the lion's den of capital and building an empire not for ego, but for empowerment. At just 34 years old, he listed on the Johannesburg Stock Exchange (JSE), a bold move that defied the racial and financial barriers of the time. He built Sekunjalo Investment Holdings into a multi-billion-dollar African group with more than 200 investments across 40 countries. Yet it is not the size of the portfolio that commands attention, it is the intent behind it. Dr Survé has consistently championed what he calls a 'gentler capitalism,' a value-driven model that puts people before profits, purpose before power. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Next Stay Close ✕ This approach challenges the extractive nature of global capitalism. It questions models that prioritise short-term shareholder gains over long-term societal health. In a country still scarred by the legacy of racial capitalism, his commitment to broad-based economic participation is a quiet revolution. He has opened doors where others have built walls. We live in a nation where just a handful of families control the economy, banking sector, and dominant media platforms, relics of an economic apartheid that never truly ended, Dr Survé's call for redistributive justice is both radical and necessary. He does not seek to dismantle South Africa's economy, but to democratise it. And that, in today's captured system, is a subversive act. Internationally, Dr Survé's leadership has been just as resolute. As Chair of the BRICS Business Council and a member of the World Economic Forum since 2007, he has emerged as a global voice for equity, sovereignty, a multipolar world order and speaks for a shared humanity. He is trusted by leaders like Xi Jinping, Vladimir Putin, and Lula da Silva, Dr Survé represents the values of a post-colonial Global South still fighting for economic inclusion and narrative sovereignty. In a world where history is repackaged by the powerful and truth is filtered through profit-driven newsrooms, Dr Iqbal Survé's Independent Media is more than a business, it's a frontline trench in the battle for memory. It defies corporate capture. It disrupts the comfort of revisionist lies. It insists that African voices narrate African realities, unfiltered, unbought, and unapologetic. In today's information war, that's not just journalism. That's resistance. There's a heavy price for speaking truth in a country where power protects itself. Dr Survé has been dragged through courtrooms, vilified in headlines, and targeted by institutions. Yet, he does not run. He does not flinch and he refuses to be controlled. Because for him, leadership is not about safety, it's about standing guard over the soul of a nation, even when the cost is personal. That, perhaps, is what truly separates him in this era of global chaos and moral exhaustion. While others chase power, he restores dignity. While many hoard influence, he builds people and his life's work is carved from conviction. It's what happens when intellect serves integrity, when global insight walks hand-in-hand with local accountability, and when legacy is defined not by how much you take — but by how deeply you give. When Dr Survé spoke recently at a Cape Town conference about the Freedom Charter and Cuba's historic solidarity, it wasn't nostalgia, it was a moral intervention. He didn't invoke the past to romanticise it, but to remind this country of what it once stood for. His call was clear: South Africa needs a new national dialogue, not one choreographed by elites or boxed in by race and ideology, but one built around jobs, justice, and dignity. The basics. The non-negotiables. In a country still haunted by unfinished freedom, Dr Survé stands as a reminder that freedom is not a destination but a practice, one that demands leaders with memory, backbone, imagination, and moral clarity. In an era that rewards populism over principle, we need leaders that offer a different path: one where values matter, where vision is bold, and where service is sacred. South Africa stands at yet another turning point, and this time, slogans won't save us. We will rise or we will break, depending on whether our leaders have the spine to build with both heart and intellect. This country doesn't need empty charisma. It needs conviction. Leadership that doesn't just uplift, but lays the bricks for a future that works — for everyone. * Adri Senekal de Wet is the Editor-in-Chief of Independent Media.
