JSE SME Programme Drives Growth as BoTong Civils Reports 418% Revenue Jump
The Johannesburg Stock Exchange launched the fifth cohort of its SME Rise Enterprise Accelerator Programme, enrolling 12 high‑potential firms mainly in ICT and technology. BoTong Civils, a graduate of a previous cohort, reported a 418% revenue surge after the programme, securing over R70 million in funding, R200 million in guarantees and an order book exceeding R3 billion. The company now targets a listing on the JSE AltX within two years and aims to grow its order book to more than R100 billion. SME Rise continues to bridge South African SMEs with capital markets and growth opportunities.
Absa Boosts Fuel Cashback as Petrol Prices Surge
Absa Rewards is raising its fuel cashback cap by R2,000 (about $108) to help South African motorists as petrol prices jump R3 per litre (~$0.16) and diesel climbs R7 per litre (~$0.38). The temporary increase runs from April through May,...
Hunt on for PIC’s Lost Billions
Deputy Finance Minister and PIC chair David Masondo warned that companies defaulting on PIC loans are "robbers" and pledged tighter enforcement. The Public Investment Corporation said its asset base swelled from R2 trillion to R3.7 trillion over five years while recovering R10 billion...
State Capture Still Stinging SOEs
South Africa’s state‑owned enterprises Transnet and PRASA remain mired in the fallout from the Zondo state‑capture inquiry, with debt soaring to roughly $7.8 billion and operating deficits expanding to $449 million. Audits reveal persistent irregular spending, massive maintenance backlogs and governance lapses,...
Solar Firm to Tackle High Electricity Costs
South Africa’s rising electricity tariffs have spurred the launch of Ipeleng Power Solutions (IPS) in Johannesburg. IPS uses community‑based stokvel pools and broader crowdfunding to finance solar installations for households, small businesses and underserved communities. The models spread costs over...
Ramaphosa Launches R2 Trillion Investment Drive
President Cyril Ramaphosa announced the launch of a second investment mobilisation drive targeting roughly $111 billion (R2 trillion) over the next five years. The South African Investment Conference has already secured about $49 billion (R889 billion) for 31 projects, promising 230,000 permanent jobs. A...
Infrastructure Credit Guarantee Scheme to Unlock Billions
South Africa has introduced a Credit Guarantee Vehicle (CGV) backed by the Development Bank of Southern Africa, the national treasury and the World Bank, with an initial $500 million capitalisation, including $350 million from the World Bank. The CGV aims to de‑risk...
SA Pitches Itself as Africa’s Gateway Amid Global Market Turbulence
South Africa is gearing up for the sixth South African Investment Conference, with more than 31 countries sending delegations. The conference builds on a five‑year drive that has attracted roughly R1.56 trillion (about US$82 billion) in investment pledges, exceeding its original target...
Mantashe Pushes Oil and Gas Drive as Global Tension Raises Fuel Price Risks
Mineral and Petroleum Resources Minister Gwede Mantashe warned that soaring global crude prices—now above $100 a barrel—expose South Africa’s reliance on imported fuel and urged a rapid acceleration of domestic oil and gas development. He highlighted significant offshore prospects in...
African Bank Appoints New Chief Executive
African Bank has named Zweli Manyathi as its new chief executive as the lender moves into a consolidation phase after years of expansion and acquisitions. Current CEO Kennedy Bungane steps down after five years leading the Excelerate 25 transformation that diversified...
South Africa to Earmark R1.58 Trillion Towards Social Services
South Africa’s 2024 budget earmarks R2.67 trillion in total spending, with R1.58 trillion directed to social services. The largest allocations go to education (R527.2 billion), social development (R446.6 billion), health (R310.4 billion) and economic development (R283.9 billion). Peace and security receives R274.6 billion, funding police, defence and...
Godongwana Holds Better Budget Cards but Economic Recovery Remains Inadequate
Finance Minister Enoch Godongwana is set to present a 2026 budget bolstered by higher-than‑expected tax receipts, driven by a commodity price surge and improved collection efficiency. Despite the fiscal headroom, his GDP outlook remains bleak, projecting growth under 2%—far short...
IMF Expects Godongwana to Maintain Budget Surplus Target of 1.5% of GDP
The IMF’s South Africa mission chief expects Finance Minister Enoch Godongwana to keep the primary budget surplus at 1.5% of GDP and to embed the necessary fiscal reforms in the 2026 budget. The Fund highlighted controlling the public‑sector wage bill,...
Unpacking African Markets in the Era of Global Volatility
The Africa Markets Conference 2026 (AMC26) opened in Cape Town, hosted by Standard Bank, to examine how heightened global volatility—particularly U.S. Trump‑era tariffs—affects the continent. Organisers aim to channel private and sovereign capital into African infrastructure and growth sectors amid...
Tongaat Hulett Collapse Looms
Tongaat Hulett, South Africa's leading sugar producer, is heading for provisional liquidation after its business rescue plan collapsed. The Vision Group's acquisition of lender claims and a debt‑to‑equity swap failed, leaving the rescue unimplementable. Cosatu warns the collapse will trigger...