South Africa Economic and Financial News
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 ...
JSE launches campaign to return billions in unclaimed dividends
The Johannesburg Stock Exchange (JSE) has raised concern over an enormous amount of unclaimed dividends totaling 4.5 billion rand (over $260 million) that remain in the exchange’s accounts ...
Moody’s projects South African economy to grow by less than 1.5% a year
South Africa’s economy is set to expand by less than 1.5% annually over the next two years, according to a new report by Moody’s Investors Service. The forecast places the country far ...
South African tech firms drive growing delisting wave on JSE
A wave of delistings on the Johannesburg Stock Exchange (JSE) is causing concern among local investors and asset managers, raising questions about the long-term sustainability and efficiency of ...
South Africa inflation eases to 3.3% in August, raising hopes for rate cut
South Africa’s consumer inflation slowed to 3.3% year-on-year in August, down from 3.5% in July, according to data released ahead of the South African Reserve Bank’s (SARB) Monetary Policy ...
South Africa reports less than 1% of banking cybercrimes
According to official crime statistics and data from the South African Banking Risk Information Centre (Sabric), fewer than 0.6% of banking-related cybercrimes were reported to South African ...
