The Waking Crew 2.0

Catch Jarret and Deon for their early morning antics: 06:00 - 09:00

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The Coffee Break

Get that morning buzz you need, from 09:00 - 12:00

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The Hard Drive

with Karlien, for your lunch time entertainment 12:00 - 15:00

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The Headrush

End your busy day with Chops, 15:00 - 18:00

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Rand suffers amid free education speculation

The rand breached R14.50/$ on Monday as news filtered through of South African President Jacob Zuma's seemingly imminent plan to push through free higher education. 

Andre Botha, dealer at TreasuryOne, told Fin24 that the rand's choppy trade is due to the local rumour mill spinning at full tilt on Zuma's move for free higher education becoming imminent and continued speculation that Deputy President Cyril Ramaphosa could be facing the axe. Botha said the reality is that there are no funds available to justify the free education notion. "This will place enormous pressure on an already overstretched economy," he said. The rand already came under pressure on Friday amid the free fee talks and growing speculation that both Moody’s and S&P will downgrade South Africa’s local currency credit ratings to junk status by end-November, which could trigger large outflows from South Africa’s bond market.