South Africa's rand was steady on Friday as investors awaited clarity on a disputed national budget which has roiled domestic markets. At 1236 GMT, the rand traded at 18.8125 against the dollar, near its Wednesday closing level of 18.

Following the announcement by Finance Minister Enoch Godongwana to abandon the proposed VAT increase, the South African rand has shown signs of recovery, gaining value against the US dollar. This decision comes amid significant opposition and legal challenges from various political factions.

USD/ZAR firmed on Thursday as investors awaited clarity on the South Africas budget plans. The proposal to lift VAT by a combined 1 % over two years has pitted the countrys largest parties against each other

PRETORIA, South Africa (AP) — Ukrainian President Volodymyr Zelenskyy arrived in South Africa for a state visit Thursday following U.S. President Donald Trump’s new accusations that he is prolonging the war against Russia by pushing back against any plan to give up Ukrainian territory in a peace deal.

Ukraine's President Volodymyr Zelensky is on a historic visit to South Africa, signalling a dramatic improvement in the once-strained relations between the two nations. The visit marks a diplomatic breakthrough for the Ukrainian leader in his efforts to counter Russia's strong - and growing - influence in Africa.