Vernon Wessels

Creator

Vernon Wessels

With more than 20 years navigating global markets and billion-dollar bond deals, Vernon is a financial journalism heavyweight. As Bloomberg’s ex-South African bureau chief, he spearheaded African market coverage and mentored the next generation of finance trailblazers.

Behind the inflation debate: What the analysts say

A sharp drop in July inflation has led economists to rethink interest rate projections

The airport that caused all the fuss

Lanseria airport is at the centre of a PIC row involving millions of rands, a suspended CEO, the board being replaced and high-level political clashes

South Africa has lost roughly half its manufacturing base since democracy, yet it still talks about factories as the only way to grow.

Factory nostalgia is a wasted dream amid stark economic reality

Manufacturing has halved as a share of South Africa’s GDP since democracy. Is industrial policy fighting yesterday’s battle?

PIC Patrick Dlamini. Public Investment Corporation; Currency

Dlamini can go back to work, as judge flays PIC’s ex-board

The high court has ruled Patrick Dlamini’s suspension unlawful, clearing the way for his return as PIC CEO after weeks of political turmoil

Seiso Mohai. ChatGPT; Supplied; Currency

New PIC chair under scrutiny over wife’s R18m housing deal

New PIC chair Seiso Mohai faces DA questions over his wife’s firm and its Free State government payments under Ace Magashule

Patrick Dlamini. PIC. Lanseria. Supplied/Public Investment Corporation; lanseria.co.za; Rawpixel; FM

The new PIC board: another ANC chair

Seiso Mohai is named PIC chair after a political fallout unseated the previous board, reviving pressure to depoliticise its leadership

PIC imploding. Rawpixel/Currency

Dlamini hits out at ‘bad faith’ PIC whistleblowers

As the PIC grapples with a governance vacuum, the CEO says his suspension was based on anonymous speculation, not evidence

PIC public investment corporation. ChatGPT Currency

High drama as suspended PIC boss goes to court

Patrick Dlamini goes to court over his suspension as the PIC board collapses, deepening the governance crisis at the asset manager

David Masondo(Gallo Images/Brenton Geach), Enoch Godongwana (Ashraf Hendricks/GroundUp), Rawpixel/Currency

PIC crisis deepens as four more directors quit

Four more PIC directors are said to have quit after Godongwana threatened to dissolve the board, deepening the crisis at Africa’s largest asset manager

South African President Cyril Ramaphosa address the media with EU leaders in Johannesburg, South Africa, Thursday, Nov. 20, 2025. (AP Photo/Themba Hadebe)

How Ramaphosa lost business

Business leaders tell Currency their faith in Ramaphosa has run out – and why the GNU, not the president, anchors confidence

David Masondo(Gallo Images/Brenton Geach), Enoch Godongwana (Ashraf Hendricks/GroundUp), Rawpixel/Currency

Inside the PIC’s meltdown

PIC CEO Patrick Dlamini’s suspension has reignited questions over governance, politics and accountability at the R3.6-trillion asset manager

Treasury withholds money from municipalities. Rawpixel/Currency

Treasury draws a line on failing municipalities

Treasury freezes July funding to 69 municipalities, including Joburg, in its toughest push yet for fiscal discipline

oil see-saw. Rawpixel/Currency

Dizzying reversal in oil prices has rates in and out of play

Lower oil prices have eased inflation risks and boosted bonds, but uncertainty over expectations and US rates keeps a July hike in play

Stanlib’s Pieter Hugo. Supplied

Why retirees can’t afford to play it safe

Investing too conservatively in a living annuity is South Africa’s quiet retirement crisis. Here’s what Stanlib’s research shows – and what to do about it

Reserve Bank governor Lesetja Kganyago. Gallo Images/Fani Mahuntsi

Why the SARB should hike rates on Thursday  

Higher oil prices, rising inflation and the rand: South Africans need to brace for a 25-basis-point rate hike

Finance squeeze. Rawpixel/Currency

Pay is up. So why are workers raiding pensions?

South Africans got above-inflation pay rises. Yet they’re raiding pensions, cancelling insurance and leaving jobs. Here’s why

CAPE TOWN, SOUTH AFRICA – MARCH 31: A petrol attendant fills a car on March 31, 2026 in Cape Town, South Africa. Motorists in South Africa are expected to see the price of petrol rise by about 15% and diesel up to 40%, despite the South African government introducing a reduction in fuel levy for April by 3 rand, as the global supply chain continues to be impacted by the conflict in the Middle East, and Iran’s closure of the Strait of Hormuz. (Photo by Per-Anders Pettersson/Getty Images)

Fuel relief puts Godongwana (and Kganyago) in a bind  

Treasury’s fuel-price relief ends in July, and if the Iran war drags on, the prime interest rate could surge above 11.5%

Transnet Eskom stalled. Photo by Gallo Images – Misha Jordaan / Freepik / Rawpixel / Currency collage

How Eskom and Transnet are blocking growth reforms  

Transnet and Eskom are acting as both referee and player, says BLSA, while political interference at municipalities is as bad as ever

Money pocket. Rawpixel/Currency collage

Earning more won’t fix your finances. This will 

The Franc wealth index surveyed nearly 4,000 South Africans. Its key finding: what you do with money matters far more than how much you earn

Oil South Africa. Rawpixel/Currency collage

Why South Africa is so vulnerable to the Iran war

The Iranian oil shock is reversing South Africa’s modest recovery, exposing structural weaknesses in energy, investment and household spending