SA Rand slipped in early trade on Friday

US and Iran stepped up attacks across the Gulf

South Africa’s (SA) President Cyril Ramaphosa has hailed Toyota SA Motors’ investment in the ninth-generation Hilux programme as a strong vote of confidence in SA’s economy, manufacturing sector and workforce.

The closure of the Strait of Hormuz during the conflict in the Middle East removed around 20 million barrels of oil and refined products per day from global markets, yet oil prices rose far less than many analysts initially feared.

African ministers, development institutions and private-sector leaders have called for the continent’s vast critical mineral resources to become a catalyst for industrialisation, economic transformation and job creation rather than continuing to fuel the export of raw materials.