GlobalSource Partners | Country Insights

Beyond the infrastructure agenda, the 2026 MTBPS reinforces government's commitment to fiscal consolidation and debt sustainability. The National Treasury confirmed that gross government debt stabilized at 78.4% of GDP in FY2025/26, compared with the 78.9% projected in the February Budget. This r...

Renewed inflation pressures keep the SA Reserve Bank on the defensive

SOUTH AFRICA · Report · 24 Sep 2026

The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) increased the policy rate by 25 basis points to 7.25% at its September meeting, effective from September 25, 2026. The decision, which was unanimous, follows the decision to leave rates unchanged in July and represents the se...

Current account surplus switches to a deficit in Q2-2026

SOUTH AFRICA · Report · 11 Sep 2026

Data released by the South African Reserve Bank (SARB) shows that South Africa’s current account of the balance of payments deteriorated markedly during the second quarter of 2026, switching from a surplus of R181.6 billion in the first quarter to a deficit of R205.5 billion. As a percentage of G...

South Africa’s growth momentum falters in Q2-2026

SOUTH AFRICA · Report · 09 Sep 2026

South Africa’s quarter-on-quarter real GDP declined by 0.2% during the second quarter of 2026, following the first quarter’s 0.4% q/q increase, bringing an end to six consecutive quarters of positive growth. On an annual basis, the economy was still 0.9% larger than in the second quarter of 2025,...

South Africa’s economy: stronger fundamentals, tougher headwinds

SOUTH AFRICA · Forecast · 28 Aug 2026

Summary and assumptions: South Africa’s growth: The South African economy maintained its growth momentum into the start of 2026, extending the recovery that began in 2025. Despite a more challenging global environment, the country's improving macroeconomic fundamentals continued to provide sup...

The South African Reserve Bank holds its ground as inflation reemerges

SOUTH AFRICA · Report · 24 Jul 2026

The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) announced that it is leaving the benchmark interest rate unchanged following the completion of this week’s meeting. This comes after it increased rates by 25 bps during the committee’s previous meeting in May 2026. As such, t...

South Africa's Financial Stability Review: External risks dominate while domestic resilience holds

SOUTH AFRICA · Report · 06 Jul 2026

The latest (June 2026) Financial Stability Review by the South African Reserve Bank signals an important shift in South Africa's macro-financial environment. While it continues the SARB's comprehensive assessment of both domestic and international risks to financial stability, the balance of risk...

South Africa’s Q1-2026 current account: stronger external balances amid rising global uncertainty

SOUTH AFRICA · Report · 12 Jun 2026

Data released by the South African Reserve Bank shows that, during the first quarter of 2026, the surplus on South Africa’s current account of the balance of payments widened markedly, to R190.7 billion, up from R50.2 billion in the fourth quarter of 2025. This makes it the largest surplus record...

South Africa records its sixth consecutive quarterly growth in Q1-2026

SOUTH AFRICA · Report · 09 Jun 2026

Real quarterly GDP increased by 0.5% q/q in the first quarter of 2026, following an expansion of 0.4% q/q during the fourth quarter of 2025. This, meanwhile, represents the sixth consecutive positive quarterly growth rate. The latest GDP print indicates that the South African economy maintained i...

South Africa’s economic outlook: resilience amid rising global uncertainty

SOUTH AFRICA · Forecast · 01 Jun 2026

South African growth: South Africa’s economic growth in 2025 accelerated from 2024’s anemic growth. However, relative to forecasts at the start of 2025, GDP growth still surprised on the downside—once again. The South African National Treasury had forecast 2025 GDP to expand by 1.4% during Budget...

South African President tripped by the "Farmgate Saga",- with his back against the ropes , fighting for political survival

SOUTH AFRICA · In Brief · 12 May 2026

On May 8th the Constitutional Court, the highest court in the land, issued a rare verdict instructing the Parliament to commence an inquiry into the conduct of the President by establishing an Impeachment Committee based on the findings of the 2022 Phala Phala Report produced by Parliament's Inde...

South Africa’s investment in infrastructure and shift to sustainable growth

SOUTH AFRICA · Report · 24 Apr 2026

South Africa’s infrastructure investment trajectory has steadily weakened over the past decade, both in absolute terms and relative to peers. From a relatively stable range of around 18–19% of GDP between 2010 and 2015, investment began to trend downward from 2016, falling to just 13.4% by 2025. ...

An expected pause in interest rate cuts by the SA Reserve Bank

SOUTH AFRICA · Report · 26 Mar 2026

The South African Reserve Bank’s (SARB) Monetary Policy Committee (MPC) announced that it is leaving the benchmark interest rate unchanged following another halt in January 2026. As we have highlighted in recent reports, the likelihood of the Reserve Bank cutting rates has declined considerably, ...

The current account shows an improved external position in a volatile global environment

SOUTH AFRICA · Report · 16 Mar 2026

Data released by the South African Reserve Bank indicates that the South African current account balance recorded a surplus for the first time since Q3-2023, as it switched from a deficit of R72 billion in the third quarter of 2025 to a surplus of R50.2 billion in the fourth quarter. As a ratio o...

Slow but steady: South Africa records its fifth consecutive positive GDP growth rate in Q4-2025

SOUTH AFRICA · Report · 11 Mar 2026

Real GDP figures released by Statistics South Africa (Stats SA) indicate that South Africa’s economy registered its fifth consecutive quarterly expansion, as it increased by 0.4% q/q in the final quarter of 2025. As in previous quarters, Q4-2025 growth was mainly fueled by strong household consum...