SA’s fuel import bill surges to highest level since 1994 on Middle East conflict
As South Africans were hit with record fuel prices from Wednesday, paying over R30 for a litre of petrol and over R33 for diesel, the economic impact of the war in the Strait of Hormuz is showing up in the country’s soaring import bill.
BRICS abandons common currency push, opts for integrated payment systems to bypass US dollar friction
BRICS has moved away from the idea of creating a single currency to challenge the US dollar, instead focusing on connecting members’ payment systems and expanding the use of local currencies in cross-border trade.
South Africa posts widest current account deficit since 2019
South Africa’s current account slumped to a deficit in the second quarter as the nation’s trade surplus narrowed sharply and the value of imports increased more than that of exports amid fallout from the Iran war.
Employers face million-rand fines for hiring undocumented workers – SA Labour Department
Deputy Labour Minister Jomo Sibiya says employers who repeatedly hire undocumented foreign nationals could face fines of up to R1 million per worker under proposed changes to South Africa’s employment laws.
SA’s growth prospects remain subdued
Amid rising unemployment and low consumer spending, leading economists have forecast growth for the South African economy to remain at an anaemic 1.2% in 2026, below National Treasury’s forecast of 1.5% to 1.6%.
SA lands major soybean export deal with China
South Africa is set to export about 200 000 tons of soybeans to China in November 2026, marking only its second soybean export deal with the country.
South Africa loses top spot in Africa
South Africa has lost the top spot in Standard Bank’s Africa Trade Barometer to Mozambique, with the country no longer enjoying a clear edge over its African peers.
245 more companies shut down in South Africa
South Africa has seen 245 more liquidations in 2026, with June figures accelerating from May. Year-to-date, 1,361 businesses have been shuttered.
South African businesses reel from foreign worker exodus
Many Zimbabweans, which accounted for the largest share of those returning, worked in South Africa’s farming, domestic work and construction sectors.
Africa’s biggest bank warns South Africa against restricting migration, citing Brexit’s economic damage
Standard Bank Group CEO Sim Tshabalala said migrants support South Africa’s economy as workers, consumers, taxpayers and entrepreneurs.