Kganyago says war inflation risks are playing out

Reserve Bank Governor Lesetja Kganyago said the Iran war's impact on oil prices has validated wariness over inflation, without giving a clear signal on what that means for interest rates.

"You are seeing the adverse scenario playing itself, although not fully," Kganyago told Bloomberg Thursday on the sidelines of the Spring Meetings of the International Monetary Fund and World Bank in Washington. "I don't think that we are far off with what we said would happen with the oil price."

Kganyago and his colleagues held their policy benchmark at 6.75% last month while outlining two adverse scenarios of what the conflict could mean for South African price pressures and rates.

In the first, the conflict lasted another two months and oil prices averaged around $100 per barrel, pushing inflation above 4%. In the second it dragged on for over a year and inflation exceeded 5%.

The SARB targets inflation at 3%, and under both scenarios a rate increase would be warranted this year, with one hike in the first case and several more in the second. Traders are currently pricing in one quarter-point interest-rate increase next month and another by year-end.

Kganyago was careful not to signal where policymakers were leaning ahead of the SARB's next rate decision, which will be announced on May 28, while repeating that officials will monitor so-called second round effects from higher fuel prices on other parts of the economy.

"We are not going to try and be pre-emptive," he said. "But neither can we afford to be complacent and say we've got to wait for the second-round effects to arrive before we actually take an appropriate policy response."

He did acknowledge that officials will likely lower their growth forecast because of the oil-price shock's impact on global growth and domestic spending, which might be a dampening influence on price pressures if it reduces demand in the economy.

The SARB in March projected South African growth would edge up to 1.4% in 2026 from 1.1% last year. It saw inflation averaging 3.7% for 2026. South African inflation slowed to 3% in February.

Striking a more hawkish tone, the governor warned that markets may be underestimating how long damage to refineries in the Persian Gulf could constrain physical oil supply — even if shipping through the Strait of Hormuz is restored.

Kganyago also added that any reduction in fuel levies to cushion a sharp rise in petrol and diesel prices should be temporary, pointing to lessons from the pandemic, when emergency social support measures introduced at the time are still in place years later.

Finance Minister Enoch Godongwana has cut the fuel levy by R3 a litre on both petrol and diesel for April and said he would review whether to extend the relief through June, signalling that the three-month window may be all South Africa can afford.

Ramaphosa urges long-term partnership with Spain amid broader €62bn investment pipeline

President Cyril Ramaphosa on Friday alluded to a massive pipeline of 85 investment projects, valued at over €62-billion, with investment partners, emphasising that South Africa is open for business, and inviting Spanish capital not only to fund, but also partner in, long-term industrial ventures.

Speaking at the South Africa–Spain Business Forum, in Madrid, Ramaphosa said South Africa saw a strong opportunity to grow its exports to Spain and to the broader European market in several areas.

Ramaphosa explained that through the country's investment promotion agency, InvestSA, opportunities had been developed into structured, investment-ready projects designed for partnership and phased implementation.

These projects span energy transition infrastructure, green industrialisation, critical minerals beneficiation, agro-industrial value chains, sustainable fuels, digital connectivity and pharmaceutical manufacturing.

"They are underpinned by clear policy frameworks, targeted investment incentives and dedicated one-stop facilitation mechanisms to ease implementation," he said.

Ramaphosa said South Africa had an opportunity to connect European technological strength with African growth.

"We have an opportunity to build supply chains that are resilient, sustainable and inclusive.

"Most importantly, we have an opportunity to create prosperity that is genuinely shared in Madrid and in Johannesburg, in Seville and in Durban, in the farming towns of Andalucía and in the mining communities of Limpopo," he stated.

In 2025, total trade between South Africa and Spain reached about €2.8-billion.

Ramaphosa said South Africa's exports to Spain reached €1.3-billion, a 10% increase over the previous year.

"This makes Spain our fastest-growing major trading partner within the European Union. Our countries do not compete. We complement each other, demonstrating how strategic partnerships can strengthen global value chains," he said.

More than 150 Spanish companies currently operate in South Africa, supporting more than 20 000 jobs across sectors such as renewable energy, infrastructure, financial services, technology and tourism.

Added to this is Spain's commitment of over €2.1-billion to South Africa's just energy transition, he explained.

"…this is directed at green hydrogen, electric vehicles, renewable energy and grid infrastructure," he said.

However, Ramaphosa said that while South Africa and Spain's trade relationship was strong, it remained structurally imbalanced, concentrated in a narrow range of products.

POLICY AND STRONG INSTITUTIONS

Ramaphosa assured reforms to improve the country's logistics network, strengthen the electricity system and create a more competitive business environment.

"We are making it easier to invest, easier to trade and easier to grow," he said.

He said as trade was expanded, the rules governing global commerce must be fair and support development.

While South Africa was committed to a just transition toward a low-carbon economy, Ramaphosa warned against new regulatory frameworks, such as the EU Carbon Border Adjustment Mechanism, being used to inadvertently punish developing economies for emissions they did not historically cause.

"We are not opposed to the principle of carbon accountability. What we ask is that climate measures be accompanied by the necessary climate finance, technology transfer and transitional arrangements that the Paris Agreement and successive COP commitments have promised," he explained.

NPA, DA warn against undermining judiciary after Malema's five-year sentence

The National Prosecuting Authority (NPA) and the Democratic Alliance (DA) have condemned threats and remarks directed at Magistrate Twanet Olivier and State prosecutors, warning that these undermine the judiciary for political wins.

The East London Magistrate's Court on Thursday sentenced Economic Freedom Fighters (EFF) leader Julius Malema to five years imprisonment for discharging a firearm in public.

Following the judgment Malema and his party launched a series of verbal attacks against presiding officers, with Malema labelling Oliver a "racist of note and incompetent", alleging that the judgment was influenced by an "invisible hand".

Posted on social media platform X, the party also targeted State prosecutor Joel Cesar, stating that he was "arrogant and suffered from short-man syndrome".

"The only thing we need to do is to make sure that this prosecutor, who is arrogant, and suffers from short-man syndrome, is taught a lesson," the EFF's X account posted.

NPA national spokesperson Kaizer Kganyago said any form of intimidation against prosecutors was a direct threat to the rule of law and he highlighted a particular concern for safety in the Eastern Cape, noting that three prosecutors had been killed in the province over the past two years.

"These officials serve the public by representing the State and are constitutionally mandated to execute their duties without fear, favour, or prejudice. Threats against prosecutors, whether perceived as credible or not, must be treated with the utmost seriousness and reported to the relevant law enforcement authorities for investigation," he said.

DA spokesperson on Justice and Constitutional Development advocate Glynnis Breytenbach raised serious concerns over Malema's "flippant labelling" of presiding Magistrate Olivier as a "racist".

Breytenbach argued that unsubstantiated allegations made immediately after an adverse judgment risk eroding public confidence in the judiciary.

"This is not a trivial matter. The strength of our legal system depends fundamentally on the trust that citizens place in its impartiality and integrity," she stated.

She emphasised that judgments must be scrutinised, criticised, and, where warranted, challenged through proper legal channels such as appeals and reviews.

"That is how a healthy constitutional democracy functions. But to resort to inflammatory accusations against judicial officers, particularly on grounds as serious as racism, without any credible substance is reckless and damaging," she cautioned.

Breytenbach stated the country's judiciary had, over decades, demonstrated resilience, independence, and commitment to upholding the Constitution, even during immense political pressure.

"To undermine this institution for short-term political gain is to weaken one of the last safeguards against abuse of power.

"This kind of rhetoric sets a dangerous precedent. If political leaders are permitted to discredit judicial officers whenever rulings do not align with their interests, it risks normalising contempt for the courts. This, in turn, threatens the rule of law itself, opening the door to instability and eroding the very fabric of our democracy," she explained.

She urged leaders to act responsibly and uphold the institutions designed to protect citizens.

She said accountability must be accepted with dignity, and disagreements must be addressed within the framework of the law.

"The rule of law is not negotiable. It is the foundation upon which our democracy stands. Undermining it, through reckless and unfounded attacks on the judiciary, places that foundation at risk, and with it, the rights and freedoms of all South Africans," she said.

Mixed reactions at Malema's 5-year sentence

Mixed reactions have emerged following the sentencing of Economic Freedom Fighters (EFF) leader Julius Malema in his 2018 firearm case, with some opposition parties and civil society organisation stating that the ruling affirmed that no public official is above the law.

The East London Magistrate Court on Thursday sentenced Malema to five years imprisonment for discharging a firearm in public.

Critics have emphasised the importance of holding politicians accountable for their words and actions, particularly regarding the unlawful discharge of firearms.

In September, Malema was found guilty on five charges under the Firearms Control Act, including discharging a firearm in a built-up or public area without sufficient reason, unlawful possession of a firearm and unlawful possession of ammunition.

Malema's legal team will appeal the conviction and the sentence, with the EFF leadership labelling the case a "provocation" against their supporters.

Civil rights organisation AfriForum said Malema's sentence was an important step in restoring public confidence in the criminal justice system.

The organisation said this confirmed that no one, regardless of their status or political affiliation, is above the law.

"The reckless discharge of a firearm in a busy public space posed a real and unacceptable risk to human life. It is good to see that this type of behaviour is not normalised or justified under any circumstances," said AfriForum's Chief Spokesperson for Community Safety Jacques Broodryk.

He stated that when the law is applied consistently and without fear or favouritism, public confidence in the justice system is strengthened.

"Malema's actions have gone unpunished for too long. It was essential that the court send a clear message that no one is above the law. Although it took eight years for justice to prevail, today's outcome shows that perseverance matters," he added.

Democratic Alliance (DA) leader Geordin Hill-Lewis reiterated AfriForum's sentiments that the sentence sent a clear message that nobody is above the law.

Hill-Lewis said gun violence is "out of control" in South Africa, so any crime involving illegal gunfire is extremely serious.

"It's important to punish illegal firearm crimes harshly. Only when people understand that there are consequences for crime, will we get gun violence under control in South Africa," he said.

The think tank and advocacy group, Lex Libertas said this case reaffirmed its argument for decentralisation and self-governance so that organisations can play a major role in ensuring law and order.

"This outcome reaffirms that elected leaders are not immune from legal accountability," said Lex Libertas executive director Dr Ernst Roets.

Civil Society South Africa (CSSA) pointed out that South Africa faces a serious and ongoing crisis of illegal firearms and violent crime, noting that individuals who possess and use firearms unlawfully, particularly in ways that endanger others, must be prosecuted decisively and to the full extent of the law.

"The unlawful use of a firearm is not a minor technical offence. It is conduct that places lives at risk and contributes to a broader climate of lawlessness. Where individuals contravene the law with a firearm, there must be real consequences," said CSSA spokesperson Reece Clark.

Clark explained that public leaders carry a heightened responsibility, noting that their conduct does not occur in isolation.

"… it is observed, repeated, and often normalised by those who follow them. In a country already grappling with high levels of violence, rhetoric that leans toward incitement, combined with the unlawful discharge of a firearm, sets a dangerous precedent. It risks reinforcing the idea that firearms can be used irresponsibly, without consequence," he said.

The organisation stated that accountability must be "real and visible and it must apply equally."

"This case reinforces a simple principle: the unlawful use of a firea...

Phala Phala: ActionSA demands probe into Presidency officials

Following its long battle for the release of the Independent Police Investigative Directorate (IPID) report into the Phala Phala farm robbery, ActionSA now wants Public Protector advocate Kholeka Gcaleka to immediately reopen the investigation.

The party wants the scope of inquiry expanded to shift focus from the Presidential Protection Unit (PPU) to the potential culpability of high-ranking Presidency officials.

The IPID report detailed misconduct such as the unlawful use of State resources, falsifying documents, and abuse of the President's name.

ActionSA national chairperson Michael Beaumont said while the initial scandal focused on the conduct of head of PPU Major General Wally Rhoode, the IPID findings have uncovered a new crucial angle involving the Presidential Envoy for Africa, Dr Bejani Chauke.

The IPID's report indicated that Chauke travelled with PPU members to Namibia in June 2020 using South African Police Service (SAPS) VIP resources, despite not being authorised to do so.

Beaumont pointed out that the trip, officially framed as a national security matter, coincided with the arrest of the primary suspect involved in the Phala Phala farm robbery.

The party highlighted that Chauke's involvement pointed to a "coordinated effort within the Presidency to conceal the crime", arguing that his presence on an "evidently unlawful cross-border mission" likely required authorisation from President Cyril Ramaphosa.

Beaumont argued that unlike PPU members who have dual reporting lines, officials in the President's office have clear lines of reporting, directly linking this activity to the highest level of the Presidency.

ActionSA announced a comprehensive plan to ensure accountability, stating that the new evidence pointed to an abuse of State resources to cover up a robbery on the President's farm.

The party called for an inquiry by the Parliamentary Portfolio Committees on the Presidency and Police to investigate the apparent failure of the Presidency and the SAPS to act on the IPID recommendations, which the party said had been ignored for nearly three years.

Beaumont announced that Parliamentary questions would be submitted to Police Minister Firoz Cachalia and Ramaphosa, demanding answers regarding the authorisation of the Namibia trip.

Malema sentenced to 5 year prison term in firearm case

South African opposition leader Julius Malema was sentenced to five years in jail on Thursday for firing a rifle in the air at a rally, a judgement that could bar the prominent campaigner from parliament.

Soon after, the 45-year-old was allowed to appeal against his sentence by a magistrate in KuGompo City and released until the case is heard by the high court.

As the hearing was unfolding, hundreds of supporters of his far-left Economic Freedom Fighters group gathered outside the court, wearing the party's trademark red berets and singing campaign songs.

RELEASED PENDING APPEAL

Legal expert Ulrich Roux said Malema would not be transferred to jail while the appeal was pending. Malema has said he will go all the way to the country's top court, the Constitutional Court, a process Roux said could take years.

Malema was convicted last year on five charges after firing the gun at a stadium in Eastern Cape province in 2018.

"It is clear that if crimes are allowed to go unchecked and unpunished, it poses a serious threat to our democratic state," magistrate Twanet Olivier said before delivering the sentence.

Under the constitution, a prison sentence of 12 months or more, if confirmed after all appeals, would bar Malema from serving as a lawmaker.

That would be a major setback for his party, which has strong support among young South Africans frustrated by the racial inequality that has persisted since the end of white minority rule in 1994.

The EFF advocates nationalising mines and seizing land from white farmers.

The court on Thursday sentenced Malema to five years in prison for unlawful possession of a firearm and two years for unlawful possession of ammunition.

It gave him fines for the other three offences, including discharging a firearm in a built-up area, with prison time if he does not pay. The sentences will run at the same time.

Malema, dressed in black suit and shirt with a red tie, was released on a warning, meaning he did not pay bail, but made commitments to appear in court on a future date.

The state prosecutor had told the court it would set a bad precedent if Malema got off without jail time and urged the magistrate to impose the maximum possible sentence of 15 years.

Malema's lawyers had argued he did not intend to cause harm by firing the gun in a celebratory gesture.

Musk row shows gap with Ramaphosa in South Africa equity rules

President Cyril Ramaphosa said billionaire Elon Musk could use equity-equivalence programmes to meet South Africa's racial-equity rules and roll out his Starlink internet service locally, pointing to US firms that comply through alternative investments rather than ownership.

Mines and telecommunications operators such as Musk's Starlink are, however, subject to licensing regulations that require 30% ownership by Black citizens, limiting the use of such alternatives.

Communications Minister Solly Malatsi of the Democratic Alliance party has proposed extending equity-equivalence structures to the sector, but some lawmakers overseeing the industry in December called for him to withdraw the policy, with Ramaphosa's African National Congress "deeply concerned" with the plan.

International companies "are given an opportunity through the equity-equivalence process where they can do other things that are empowering," Ramaphosa told reporters Wednesday. Singling out so-called Black-economic empowerment laws "is, to me, quite dishonest, because if you look at our laws, you'll find that they are empowering," he said.

Musk on April 12 wrote on his X social-media platform that the country of his birth won't license his satellite Internet service "simply because I am not Black."

Satellite technologies that rely on a constellation of low-Earth orbit satellites would be a potential game-changer for South African users who've historically faced expensive or unreliable internet options. Only 1.7% of rural households have access, according to a 2023 survey compiled by the nation's statistics agency.

South Africa introduced empowerment policies after the end of apartheid, compelling companies in industries including banking, mining and telecommunications to sell stakes to Black people who were systematically excluded from the economy during White-minority rule.

A change to the industry rules would allow telecoms companies to invest in projects such as infrastructure, digital-inclusion initiatives or research that benefits previously disadvantaged communities.

The exemption is already standard for a number of industries, including the nation's auto sector. In 2019, car manufacturers — including BMW AG, Ford Motor Co. and Toyota Motor Corp. — established a fund that would bring disenfranchised groups into the sector.

More than half of South Africans want the policy scrapped and hiring and promotions to be merit-based, according to the Institute for Justice and Reconciliation.

Malema back in court as prosecutors seek 15-year prison sentence

South African opposition politician Julius Malema was back in court on Wednesday, as prosecutors pushed for him to be given the maximum 15-year prison sentence for firing a rifle in the air at a rally.

Malema, one of South Africa's most prominent politicians, was convicted last year of charges, including unlawful possession of a firearm and discharging a weapon in a public place over the 2018 incident.

The 45-year-old leader of the fourth-biggest party in parliament, the far-left Economic Freedom Fighters (EFF), had pleaded not guilty, arguing the gun was a toy.

A prison term of more than 12 months, if confirmed after all appeals, would bar Malema from serving as a lawmaker.

That would be a major setback to EFF, which has strong support among young South Africans frustrated by the racial inequality that has persisted since the end of white minority rule in 1994.

MALEMA'S LAWYERS TRY TO KEEP HIM OUT OF JAIL

The state prosecutor told a magistrate's court in KuGompo City, formerly East London, that it would set a bad precedent if Malema were to get off without jail time.

"The accused is a political leader with a huge following ... young people emulate this kind of behaviour," prosecutor Joel Cesar said. "He's a member of parliament, a lawmaker, but he breaks the law."

Malema's lawyers argued he did not intend to cause any harm by firing the gun in a celebratory gesture, and called for a more lenient sentence such as a fine.

The court adjourned to Thursday.

Addressing hundreds of his supporters from a podium set up outside the court building, Malema said he would appeal whatever sentence he was given.

Ramaphosa defends appointment of 'patriotic' Meyer to 'recalibrate' US relations

Despite backlash at his appointment of Roelf Meyer as South Africa's ambassador to the US, President Cyril Ramaphosa has doubled down on his decision, arguing that Meyer is well qualified to "recalibrate" South Africa's relationship with the US.

Meyer's appointment received significant political backlash, with the opposition Economic Freedom Fighters calling for it to be withdrawn, claiming his appointment reflects a "dangerous" willingness by government to appease US President Donald Trump's "white supremacist whims by presenting a figure it said is 'palatable to white power structures'".

Meanwhile, on the other side of the political spectrum, AfriForum CEO Kallie Kriel on X described Meyer as an African National Congress cadre, accusing Meyer of being able to "dramatically reposition himself to suit his own personal interests".

Ramaphosa has appointed Meyer as the new ambassador following a vacancy of over a year, after Ebrahim Rasool was expelled in March 2025.

Rasool was declared persona non grata by the Trump administration following tensions related to comments regarding US white supremacist movements and land reform in South Africa.

Ramaphosa described Meyer as a distinguished "loyal and patriotic South African".

He noted that Meyer, who was the chief government negotiator for the National Party during the negotiations to end apartheid, had recently been involved in mediation processes in several countries.

Ramaphosa argued that this had sharpened his diplomatic skills.

"And when we needed to appoint an ambassador to the United States, I found him to be more than qualified to be able to work in the United States, recalibrate our relationship with the United States, interface with a number of stakeholders in the United States," Ramaphosa explained.

Meyer had interfaced with several people in the US, in Capital Hill and in various departments, Ramaphosa revealed.

"… so already, a lot of interactions have taken place. So he is, for me, more than well qualified to execute this task of being South Africa's ambassador to the United States," he stated.

Ramaphosa expressed confidence that Meyer's credentials would be accepted by the Trump administration, the same way that South Africa accepted US Ambassador Leo Brent Bozell's credentials.

"He will represent South Africa very well. He has always flown the South African flag, and he will do so like all our ambassadors all over the world. And all we should do is to wish him well and the very best and give him all the support that he needs," Ramaphosa stated.

The President acknowledged that the US remains the world's largest economy and that it plays a vital role in South Africa's economy, emphasising that it is the second largest trading partner to the country.

He added that there is much work to be done at the diplomatic level, to recalibrate the relationship with the US.

Ramaphosa said the recalibration must happen in a "respectful manner", to take the country's interests forward.

Meanwhile, Parliament Portfolio Committee on International Relations and Cooperation chairperson Supra Mahumapelo said it was supporting Ramaphosa's decision to appoint Meyer to the role, describing Meyer as a "veteran South African architect of democracy and a versatile politician".

Business Leadership South Africa also welcomed Meyer's appointment, saying he demonstrated the maturity and political acumen needed to enhance and strengthen ties between South Africa and the US.

DA, ActionSA want Qedani Mahlangu prosecuted for Life Esidimeni tragedy

Opposition parties, the Democratic Alliance (DA) and ActionSA on Tuesday demanded accountability in the long-drawn-out Life Esidimeni case, calling for former Gauteng Health MEC Qedani Mahlangu's prosecution.

While hailing the National Prosecuting Authority's (NPA's) decision to prosecute those responsible for the Life Esidimeni mental health patients' deaths as a necessary step, both parties remarked that justice had been delayed for too long.

In 2016, 144 mental healthcare patients died following the Gauteng Department of Health's decision to terminate its contract with Life Esidimeni to cut costs. The patients were moved to ill-equipped NGOs, leading to widespread neglect.

The DA is calling those identified by the inquest to be prosecuted on the full range of possible charges including culpable homicide.

DA Gauteng Shadow MEC for Health Dr Jack Bloom said politicians should not escape accountability for gross negligence that leads to suffering and death.

"Successful prosecutions will serve as a deterrent by showing real consequences for those who abuse vulnerable patients," he said.

ActionSA Member of Parliament Dr Kgosi Letlape described the tragedy as a catastrophic failure of leadership, ethics and governance.

The party pointed out that the 2021 inquest already identified Mahlangu and former Mental Health director Dr Makgabo Manamela as accountable for the deaths.

Letlape highlighted that prosecutions must mark the beginning of accountability.

"South Africans deserve a healthcare system that protects the most vulnerable, not one that exposes them to harm through negligence and mismanagement and those who enabled this tragedy should be charged for criminal negligence," he stated.

ActionSA reiterated its call for stringent consequence management for all those responsible and institutional reform in public healthcare to prevent a recurrence, as well as improved oversight mechanisms to ensure similar incidents do not occur.