Iran’s Supreme Leader Ayatollah Ali Khamenei was killed in a strike on Saturday, according to Iranian state media, following a major joint assault on the country by the United States and Israel. The attack, which targeted sites across Iran, including the capital Tehran, prompted retaliatory missile and drone launches by Iran towards Israel and Gulf Arab nations hosting US military bases.
The BBC verified footage showing explosions near Khamenei’s compound in Tehran, known as Leadership House. While it remains unclear whether he was present at the time of the strikes, US President Donald Trump stated that Khamenei was dead, and Israeli Prime Minister Benjamin Netanyahu announced the destruction of the Supreme Leader’s Tehran compound in what he described as a “powerful, surprise strike.”
The coordinated attack follows weeks of escalating regional tensions and unsuccessful diplomatic negotiations between Washington and Tehran regarding Iran’s nuclear program. According to reports, explosions were heard in multiple cities across Iran, including Karaj, Isfahan, Qom, and Kermanshah. A spokesman for the Iranian Red Crescent indicated that 24 of the country’s 31 provinces were impacted by the strikes.
The attacks have sent ripples through global markets. The rand is facing renewed selling pressure as investors seek safe-haven assets. Nigel Green, founder and chief executive of deVere Group, stated that the scale of risk in the region will dominate asset pricing, with the US dollar and Japanese Yen expected to attract defensive allocations. As of Sunday, March 1, the rand was trading at R15.93 to the dollar, R21.48 to the pound, and R18.81 to the euro.
Gold prices have surged to $5,278.01 per ounce, while oil prices have risen to $73.08 per barrel. The conflict has also disrupted air travel, with Emirates, Qatar Airways, and Air France suspending flights to and from several countries in the region, including the UAE, Qatar, Saudi Arabia, Bahrain, Kuwait, and Jordan.
Elsewhere, President Cyril Ramaphosa’s special advisor on investments, Alistair Ruiters, is scheduled to travel to the United States next week to continue trade negotiations. This follows a recent Supreme Court decision striking down global tariffs imposed by President Trump, which had included a 30% tariff on South African goods.
Concerns have also been raised regarding potential cyberattacks targeting South African government officials. Minister Dean Macpherson and Director-General Sifiso Mdakane were reportedly informed they may have been hacked after a sensitive communication between them appeared online, as part of an alleged surveillance operation related to efforts to curb corruption within the Department of Public Works & Infrastructure.
A proposed R159 billion AI data centre project in Amanzimtoti, eThekwini, by the Korea South Power Consortium is also under scrutiny, with the Democratic Alliance expressing concerns about a lack of transparency surrounding the deal.
