South Africa Economic and Financial News
South Africa anti-immigration unrest deepens pressure on migrant workers before local elections
Rising anti-foreigner unrest in South Africa is pushing migrant workers out of their homes and into makeshift camps as political tensions build before November local elections. The latest protests ...
Johannesburg mayoral race tests ANC as Helen Zille campaigns on city decline
With Johannesburg facing infrastructure failures, financial strain and rising voter frustration ahead of November's local elections, Helen Zille is campaigning to position herself as the candidate ...
South Africa’s anti-migrant backlash raises risks for investment and labor market growth
South Africa faces mounting reputational and economic costs as hostility toward African migrants persists alongside chronic unemployment and weak job creation. The backlash threatens the ...
South Africa anti-migrant violence drives evacuations and business risk
South Africa is facing a widening exodus of African migrants as anti-migrant violence spreads through poorer communities and strains the country’s standing across the continent. The departures ...
Senate Democrats challenge Trump refugee admissions increase for white Afrikaners
A dispute over U.S. refugee policy is widening after Senate Democrats formally object to the Trump administration's plan to raise admissions for white Afrikaners from South Africa. The senators ...
Capitec expands into emerging markets with AvaFin and fintech
Against the backdrop of sluggish growth in South Africa, local financial institutions are expanding into other regions of Africa and emerging markets with some of the world’s fastest growth ...
Fair value of South African rand could be R11.30
The South African rand is much weaker than it should be, with its fair value potentially at just R11.30 per US dollar compared to the existing rate of R17.15.The gap, roughly one-third of the ...
Just Eat Takeaway joins Prosus ecosystem after R83 billion buyout
With a market capitalization just under R1 trillion, Naspers is South Africa’s most valuable company, much of its wealth tied to its stake in Chinese tech giant Tencent.According to ...
New SARS crackdown targets massive surge in refund fraud cases
The Office of the Tax Ombud (OTO) has recommended that the South African Revenue Service (SARS) revise its tax refund verification procedures to combat profile theft in the eFiling ...
Major African economies expected to exit FATF grey list
As early as next month, four African countries – including the continent’s two largest economies, South Africa and Nigeria – are expected to be removed from the Financial Action Task ...
South African banks report surge in digital wallet transactions
Recent financial results from major South African banks, including Capitec, Nedbank, and Discovery, show that consumers are increasingly turning to digital wallets and virtual cards while using ...
Investec secures 20-year license to trade renewable electricity
One of South Africa’s largest banks, Investec, has obtained a 20-year license to trade electricity. The bank’s first project in this sector will be powering its Johannesburg office.The ...
Revolut applies for full South African banking license entry
Revolut, the London-based digital bank, has announced plans to apply for a full banking license in South Africa, marking its first entry into the African market. If successful, Revolut will ...
South Africa consumer sentiment weakens as economic outlook dims
Consumer sentiment in South Africa weakened notably in the third quarter of 2025, with the Composite Consumer Confidence Index (CCI) sliding to -13, down from -9 in the previous ...
Taiwan blocks chip exports to South Africa amid diplomatic rift
Taiwan has imposed restrictions on the export of microchips to South Africa on national security grounds, a move aimed at pressuring Africa’s largest economy, which maintains close ties with ...
South African rand steadies at R17.33 as Fed cut, tariffs drive flows
The South African rand remained largely unchanged against the dollar on Wednesday, extending a two-week stretch of stability as global and domestic forces balanced each other out. The currency ...
South Africans duped in R200 scam using fake accounts
South African authorities have exposed a fraudulent investment scheme run by a group of Chinese nationals, in which unsuspecting locals were duped into handing over their personal ...
Sygnia urges South African investors to cap Bitcoin ETF exposure at 5%
South African asset manager Sygnia Ltd. is urging investors to proceed with caution as its recently launched Bitcoin ETF attracts strong inflows. The firm, which oversees about 350 billion ...
2Africa subsea cable to begin partial operations this September
Partial operation of one of the world’s largest submarine communication cables — 2Africa — will begin at the end of September.The 2Africa cable is expected to be ready for service in ...
The tax department has released a SARS provisional tax explained
September 30 marks the deadline for adjusting provisional tax for individuals and certain business groups. With more South Africans — including freelancers and small business owners — now ...
Amazon opens temporary stores to showcase South African entrepreneurs
Amazon South Africa has announced the launch of temporary physical stores under the Shop Mzansi brand, timed to coincide with South Africa’s Heritage Day.Shop Mzansi, introduced shortly after ...
