South African economy, GDP, inflation, interest rates and the Reserve Bank.
The 2026 Local Government Elections will cost the taxpayer just over R3 billion, boosted by a special appropriation of about R1 billion.The extra allocation will cover voter registration, logistics and operational costs as the Independent Electoral Commission (IEC) scales up to deliver the polls. Budget allocations to the IEC traditionally surge in election years, reflecting…
The South African government is fast-tracking export diversification to protect jobs after the United States moved to terminate South Africa’s participation in the AGOA trade preference programme. Trade, Industry and Competition Minister Parks Tau said government recognises the concerns the decision may cause for business, but assured industry that alternative markets are being secured. Tau…
The United States has announced its intention to suspend South Africa and Rwanda from duty-free access to the US market under the African Growth and Opportunity Act (AGOA). United States Trade Representative Jamieson Greer said on Monday that Washington intends to suspend both countries from the programme.AGOA gives eligible African countries duty-free access to the…
South Africa maintains a trade surplus with the United States — a position that is not unique but is unusual for a developing country. The benefits the country enjoys under the US African Growth and Opportunity Act (AGOA) are particularly significant for the agricultural sector, including processed fruit, nuts, wine and other commodities. Agricultural economist…
The latest Gross Domestic Product (GDP) rebasing exercise by Statistics South Africa (Stats SA) has found that the country’s economy is 4.9% larger than previously estimated. The benchmarking and rebasing exercise lifted the measured size of the economy in 2022 to R6.99 trillion.Stats SA says the new benchmarking methodology prioritises reclassified industries and the non-observed…
South African Revenue Service (SARS) officials raided the City of Tshwane headquarters on Thursday morning, armed with a search warrant for chief financial officer Gareth Mnisi. The operation targeted Mnisi’s office. This publication understands that officials seized electronic devices, including a laptop and cellphones.Mnisi was implicated at the Madlanga Commission in allegations of tender-rigging and…
Finance Minister Enoch Godongwana remains optimistic that South Africa’s economy can grow by more than 3 percent over the next three years, despite a downward revision to the country’s growth forecast. The minister has lowered the economic growth projection for this year to 1.2 percent, from the 1.6 percent forecast in February. Speaking at a…
Finance Minister Enoch Godongwana has announced temporary fuel levy cuts to ease pressure on households and businesses, delivering slight relief at the pumps. Delivering the Medium-Term Budget Policy Statement on Wednesday, Godongwana said the diesel levy will be cut by R3 per litre, while the petrol levy will be reduced by R1.50 per litre. The…
The Eastern Cape continues to grapple with an unemployment rate of more than 47%, while youth unemployment exceeds 50%.Residents are hoping the 2026 Medium-Term Budget Policy Statement (MTBPS) will introduce measures to stimulate economic growth, attract investment and create jobs. South African Youth Council Provincial Executive Member Zikhona Matyila says the budget should prioritise funding…
The Reserve Bank’s repo rate quietly shapes what you pay on a bond and what you earn on savings. Here is how the link works.
