South Africa misses out on R6.5 billion, and OpenAI eyes $30 billion

The rand was trading at R16.39 to the US dollar on the morning of Wednesday, 30 September 2026, strengthening slightly from the day before.

South African equities advanced, with the JSE All Share Index rising 0.31% and the Top 40 Index 0.39%.

Foreign direct investment inflows reached R49.8 billion in the second quarter, up from R20.3 billion in the prior quarter.

On Wall Street, indices closed slightly lower under pressure from Treasury yields, with the 30-year yield hitting its highest point since June 2002.

The Dow Jones declined by 0.26%, while the S&P 500 and the Nasdaq declined by 0.17% and 0.09%, respectively.

European stocks ended mostly lower on Tuesday as higher sovereign bond yields weighed on risk sentiment, with the STOXX 600 slipping 0.1%.

In Asia, regional markets ended firmer after China’s official manufacturing PMI rose to 50.1 in September, following two months of contraction.

The Nikkei 225 rose 1.93% while the Shanghai Composite increased by 0.23%. Meanwhile, the Hang Seng remained largely flat.

In commodities, Brent crude oil dropped 9.75% down to $96.51 per barrel as Middle Eastern supplies recovered.

Meanwhile, gold dipped slightly after experiencing a 1.63% rally yesterday, now sitting at $4,174.96 per ounce.

On Wednesday morning, the rand was trading at R16.39 against the US dollar, R18.59 against the euro, and R21.69 against the British pound.

Important finance and investing news

South Africa loses out on R6.5 billion: A new report from BDO found that South Africa lost out on R6.5 billion in foreign spending last year, with much of this due to low visitor numbers from its BRICS partners, China and India. Morocco and Tunisia both welcomed more visitors last year than South Africa. [BusinessDay]

US sentiment hits 12-year low: Consumer sentiment in the United States has fallen to its lowest level since 2014, as elevated energy prices and weak employment statistics are stoking fears ahead of the November midterm elections. [Semafor]

OpenAI eyes $30 billion: OpenAI is in talks with investors to raise $30 billion in a pre-IPO funding round at a valuation of $1.4 trillion. The company previously raised $122 billion in March at an $852 billion valuation in what was supposed to be its last pre-IPO raise, before CEO Sam Altman ruled out a 2026 public debut. [Yahoo Finance]

Rate relief for Durban companies: The eThekwini Metropolitan Municipality council has unanimously approved a multi-million rand rates rebate programme for several large companies, with the move intended to improve investor confidence in the city. [EWN]

McDonald’s pushes AI pricing: McDonald’s is increasingly using artificial intelligence to dynamically price its menu across the United States and other global markets. This is intended to boost headquarters profits, while analysts say it risks alienating customers and increasing antitrust scrutiny. [Reuters]