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Government aims to move with speed on private investments for development

During the sixth South Africa Investment Conference on March 31, Finance Minister Enoch Godongwana and Public Works and Infrastructure Minister Dean Macpherson spoke about how the government was supporting greater investment by private-sector players in the economy.

Godongwana emphasised that a reliance on monopolies in an economy meant that, if there was a problem with a monopoly, the entire sector it served was challenged.

An example of this was the challenges experienced with State-owned power utility Eskom, which led to years of loadshedding.

"Critical to fixing this shortage of power to the grid was to get as many generators as possible online, which also means that there is a more competitive generation market in place.

"A similar arrangement was in place for logistics under State-owned Transnet and a similar problem caught up with us, and led to the entire sector, including mining, facing challenges. This inability of companies to export efficiently also impacted on the State's revenue," Godongwana said.

South Africa aimed to create competitive rail transport and energy generation systems and wanted to move with speed, he said.

"It is in our interests to implement these [structural economic] reforms because research indicates that, if we are able to move with speed, we can boost our economic growth from 1.6% or 1.8% to about 3.5% a year."

South Africa also aimed to reform the capacity of the State, particularly at municipal level. This was because, if municipal regulatory frameworks and business environments made it difficult for businesses to operate, then this environment had to be changed to make it easy to do business.

South Africa was looking at creating a regulatory framework to facilitate this, Godongwana said.

Macpherson similarly said the Department of Public Works and Infrastructure's (DPWI's) role was to prepare infrastructure projects for investment, and pointed out that about 80% of infrastructure projects failed to attract investment because they had not been properly prepared.

The Presidency-led infrastructure project support agency Infrastructure South Africa (ISA) is undertaking a trial project with four local municipalities in South Africa.

There were crises of infrastructure maintenance and development in many local governments, with about R100-billion of infrastructure grants returned to the National Treasury each year, representing missed opportunities, Macpherson said.

Under this pilot initiative, ISA and the DPWI partner with and support local governments by providing them with technical capacity to undertake infrastructure projects.

The pilot project identified about R8-billion worth of projects across the four municipalities for electricity reticulation, roads and water projects that could significantly improve their ability to deliver services, he said.

"[Entertainment and leisure company] Sun International had approached the DPWI about losing clients that could not fly in owing to the poor state of the Pilanesberg Airport [in the North West province].

"The provincial government had tried to implement a project to renew the airport three times without success. We therefore asked ISA to provide support and relaunch this project. We are working to see a public-private partnership take place to redevelop the airport," said Macpherson.

In a subsequent panel discussion, Eskom Group CE Dan Marokane said that, for South Africa to benefit from its renewable-energy resources that were distant from load centres and to realise the investment opportunities, it must build about 14 400 km of transmission and distribution infrastructure within nine years at a cost of about R440-billion.

To facilitate this, South Africa is piloting independent transmission projects (ITPs); initially for 1 200 km of transmission lines in the first phase.

This initiative was supported by the Treasury-led credit guarantee vehicle (CGV), which was backed ...

'Get up, show up, vote' – IEC's call to action ahead of local elections

The Independent Electoral Commission of South Africa (IEC) on Wednesday launched its 2026 campaign logo and tagline for the upcoming local government elections: 'Get up. Show Up. Vote'.

Speaking during the launch in Midrand, IEC chief electoral officer Sy Mamabolo said the commission's logo and corresponding tagline was a call to action and an abiding reminder about the country's constitutional ethos.

"It speaks to the enduring strengths of our democracy and the responsibility that rests with every citizen. Our democratic system does not exist in abstraction, it comes alive when people rise, participate and make their voices heard through the ballot," he stated.

The logo and tagline signal the start of an intensified phase of preparations by the IEC for the forthcoming local government elections.

Last month the commission announced a nationwide voter registration weekend would take place on June 20 and 21, ahead of the upcoming local government elections, the date for which has yet to be announced.

As party of the preparations, he said the commission would conduct a general voter registration weekend with about 24 000 registration points scheduled to open across the country.

Mamabolo said the opening of registration points would ensure that every eligible South African had an accessible opportunity to register, update their details and prepare to vote.

The IEC reminded all eligible South Africans to register to vote where they ordinarily reside.

The municipal council term expires on November 1 and the general elections will fall between November 2 and the end of January 2027.

Mamabolo announced that the commission was in the process of finalising the recruitment and training of about 70 000 registration staff.

"In essence we are placing emphasis on supervisory experience for key leadership roles in the voting stations, such as presiding and deputy presiding officers. At the same time, we remain firmly committed to upholding employment equity imperatives across all other categories of electoral staff, this will include unemployed people, and persons with disability," he explained.

The commission was also strengthening its technological platform and systems, with Mamabolo announcing that the commission was about to conclude an upgrade to modernise and render current technological platforms for the delivery of elections.

He explained that this upgrade included the necessary security reinforcement to contend with ever-evolving cyberthreats.

He also pointed out that the IEC's 40 000 voter management devices (VMD) had undergone mandatory maintenance, explaining that the suboptimal application coding which affected VMD performance in the previous general elections had now been redressed to further ensure reliability and public confidence.

Mamabolo noted that the IEC's framework indicates that candidates' nominations are likely to close towards the end of July, anticipating surpassing the 100 000-mark in term of prospective candidates for the elections.

South Africa tax collection beats estimate despite tough climate

South Africa's tax collection modestly beat estimates, boosted by stronger contributions from companies, personal income receipts and value-added tax, preliminary data show.

The South African Revenue Service (Sars) collected R2.010 trillion on a net basis in the fiscal year through March, Commissioner Edward Kieswetter told reporters in Pretoria, the capital, on Wednesday.

The amount collected was 8.4% higher than the previous financial year and slightly better than the National Treasury's estimate of R2.007-trillion in its budget review last month.

Surpassing that forecast will help support Treasury projections that government debt peaked as a share of gross domestic product in the 2025-26 fiscal year.

Tax collection from corporates grew 9.9% to R355.5-billion, while revenue from domestic VAT rose 7.6% to R604-billion. Pay As You Earn income tax advanced 8.5% to R767-billion.

"These results have been achieved despite the challenges of a sluggish economy, geopolitical tensions, global supply-chain disruptions, and the proliferation of the illicit economy," Sars said in a statement.

The revenue agency is working with law-enforcement agencies to shut down illicit trading networks in the country that it estimates costs the state more than R100-billion in lost revenue every year, Kieswetter said.

DA welcomes fuel levy cut, urges efficient spending not more debt

The Democratic Alliance (DA) on Tuesday welcomed the R3-a-litre fuel levy decrease, with Finance Minister Enoch Godongwana coming within close enough striking distance to the party's proposed R3.17, it said.

On Tuesday, Godongwana and Mineral and Petroleum Resources Minister Gwede Mantashe announced that the fuel levy would temporarily be reduced from Wednesday, as part of measures to provide short-term relief to South Africans.

Petrol prices were estimated to have increased by between R5 and R6 a litre from midnight, and the R3-a-litre reduction in the fuel levy will provide some relief.

Last week DA spokesperson on Finance Dr Mark Burke said his party was willing to collaborate with Godongwana to urgently reduce the Road Accident Fund (RAF) and general fuel levies by 50% for the duration of the oil price shock, or as long as necessary.

"A 50% reduction would dampen increases by R3.17 and provide immediate and essential relief to South Africans who are staring down the barrel of a massive petrol shock in a week's time," he had said.

On Tuesday, Burke said South Africa could not afford to take on more national debt, urging National Treasury to refuse permission for "broken" State entities such as the Compensation Fund and Setas to keep their yearly surpluses.

"This discipline must be extended across entities. Treasury needs to look at the broader national balance sheet to give South Africans an urgent buffer," he stated.

Further, he said the DA was curious as to how the fuel levy relief would be funded, adding that taxpayers cannot be expected to fund this relief through other forms of taxation.

"The only viable route to funding this relief is to make spending more efficient," he explained.

Iran conflict clouds South African economic outlook, Sarb says

The Iran war has clouded the outlook for a South African economy that had entered its longest period of economic expansion since 2018, the country's central bank said.

"The buoyant performance of global and domestic financial markets over the past year was abruptly interrupted following the outbreak of the war," the South African Reserve Bank said in its quarterly bulletin on Tuesday.

The subsequent rise in oil prices "is expected to exert significant upside pressure on domestic fuel prices in the coming months."

The bank held its benchmark interest rate steady at 6.75% last week, but cautioned a prolonged conflict in the Persian Gulf may warrant hikes in coming months, with the scale of the policy response hinging on how long hostilities last.

Oil prices have surged more than 55% since the US and Israel attacked Iran on February 28.

The central bank, whose quarterly bulletin mainly examined South Africa's economic performance through the fourth quarter, said the impact of the conflict has yet to become apparent in the real economy

South Africa announces one-month fuel levy cut to limit pump price hikes

South Africa will reduce its fuel levy for one month to stop fuel prices rising even further in April, it said on Tuesday, after trade unions and business groups pressured the government to intervene to cushion the impact of the Iran war.

The finance and petroleum ministries said in a statement that the government would recoup via other mechanisms the R6-billion of tax revenue that it would forgo via the short-term levy cut.

Work is under way on a broader package of measures to support households and key sectors of the economy, the statement said, as despite the levy cut the regulated petrol price will rise by about 15% in April and wholesale diesel by 40%.

The general fuel levy will be lowered by R3 for April, taking the levy to R1.10 per litre for petrol and 0.93c per litre for diesel.

Finance Minister Enoch Godongwana told reporters the government would monitor developments in the Middle East and that if the conflict persists, it may provide some fuel levy relief in May and June.

"I don't think it can be sustained beyond June," he said.

LEVY CUT MIRRORS 2022 MOVE DURING UKRAINE CRISIS

South Africa implemented similar relief in 2022 following the start of Russia's war in Ukraine.

That reduction of R1.5 per litre remained in place for several months before being lowered and then withdrawn.

South Africa's central bank warned of inflationary risks from rising fuel prices at its monetary policy meeting last week, saying fuel inflation of more than 18% was expected in the second quarter.

The risk-sensitive rand has fallen nearly 7% against the dollar since the US and Israel launched strikes on Iran in late February, adding to inflationary risks.

EXPOSED TO GLOBAL ENERGY SHOCK

South Africa imports most of its petroleum products, leaving it highly exposed to swings in global energy prices.

Africa's biggest economy adjusts fuel prices monthly using a formula that factors in movements in global crude oil prices, the exchange rate and local taxes such as the fuel levy.

Price changes take effect on the first Wednesday of every month.

SA Investment Conference to kickstart new five-year R2tr investment goal

Ahead of the sixth South Africa Investment Conference (SAIC) being hosted in Sandton on March 31, President Cyril Ramaphosa says South Africa presents a favourable proposition as investors look to destinations that are resilient in the face of increasingly volatile global financial conditions.

He explains in his latest weekly newsletter that the green shoots of economic recovery that South Africa is experiencing are bolstering its position.

The President will be addressing delegates at the SAIC with the conference serving as the formal launch platform of South Africa's second investment drive – government has set the goal of mobilising R2-trillion of new investments by 2028.

The event will see delegates from more than 50 countries gathering to discuss investment opportunities, with the conference having cemented its position as a premier global forum for showcasing investment prospects to domestic and international investors since 2018.

The five prior SAICs of the first investment drive managed to attract a combined R1.57-trillion of investment commitments in mining, healthcare, automotive, food and beverage and others, which Ramaphosa says reflects the sophistication of the South African economy.

Of the 300 projects initiated as a result of the SAIC to date, 161 have been finalised or are under construction.

Ramaphosa believes investment conferences play a key role in attracting foreign direct investment as high-profile platforms that connect international investors with local opportunities.

"They also facilitate strong partnerships by bringing together governments, business, banks and development finance institutions," the President says in his newsletter.

The theme for this year's conference, 'Digitisation, decarbonisation and diversification' seeks to position South Africa as a competitive, reforming and future-focused economy.

Ramaphosa points out that South Africa is Africa's largest economy with a diversified industrial base with particularly promising prospects in renewable energy.

Moreover, the President affirms the country has a sound policy and regulatory environment that offers certainty to investors at a time when many emerging markets are vying for capital globally.

Additionally, South Africa is a gateway for businesses looking to set up or expand their operations in Africa.

The prior SAIC pledges have not been merely vague commitments and promises, but have materialised as tangible, brick-and-mortar projects that are creating jobs.

The sixth instance of SAIC seeks to embed even greater confidence in South Africa as an investment destination and to demonstrate government's commitment to structural reform, policy certainty and policy execution.

GREEN SHOOTS

Ramaphosa says South Africa has an improved macroeconomic outlook after four consecutive quarters of growth by the end of 2025 and national debt is stabilising.

Last year South Africa's sovereign rating was upgraded for the first time in 17 years while the country was also removed from the Financial Action Task Force grey list.

The President attributes much of the progress in the economy to successful structural reforms, primarily through Operation Vulindlela, including improvements in electricity, freight logistics, water, telecommunications and the visa system.

Ramaphosa boasts that loadshedding has been brought to an end while a new, competitive electricity market will ensure energy security and attract investment.

He also affirms that the logistics sector is being rapidly modernised, which is enabling private sector investment in port and rail operations.

For example, a private sector participation process is under way for the Ngqura Manganese Export Corridor, in the Eastern Cape, and the Richards Bay dry bulk terminal, in KwaZulu-Natal. Government last year signed a 25-year concession agreement for the Durban Container Terminal Pier 2, which represents R11-billion in private sector...

S Africa appoints Thage to embassy in Washington – Report

South Africa appointed career diplomat Thabo Thage as its so-called minister plenipotentiary to Washington as it finalises the selection of a permanent ambassador, Business Day reported.

The appointment, made earlier this month, enables Thage to negotiate and sign agreements, the Johannesburg-based newspaper said, citing people it didn't identify. He'll also serve as deputy head of mission, a position that will soon become vacant, it said.

The US ambassador to Pretoria, Brent Bozell, will present his credentials to President Cyril Ramaphosa in April, the paper said, without saying how it got the information.

Pretoria hasn't had an ambassador in the US capital since early 2025, when Ebrahim Rasool was expelled over remarks he made that were critical of US President Donald Trump. Ramaphosa appointed Mcebisi Jonas as special envoy in April, but he didn't receive a visa to travel to the US.

High Court dismisses Zuma, Mbeki's bid to recuse Justice Khampepe

The Gauteng High Court dismissed the application brought by former Presidents Jacob Zuma and Thabo Mbeki to withdraw retired Justice Sisi Khampepe as chairperson of the Commission investigating alleged political interference in the prosecution of apartheid era crimes.

Last year, the former Presidents approached the courts for Khampepe's recusal, arguing that her past roles specifically on the original Truth and Reconciliation Commission amnesty committee and as deputy National Director of Public Prosecutions created a "reasonable apprehension of bias".

The court explained that the former Presidents were required to obtain Chief Justice Mandisa Maya's consent before instituting review proceedings against Khampepe, as per Section 47 of the Superior Courts Act.

"Leave to cite in terms of Section 47 (1) must be obtained. This is so regardless of whether the matter relates to either a Judge's judicial functions and activities or private affairs. It applies to civil proceedings, as in this instance, intended to be instituted against the Judge in the Judge's personal or judicial capacities," the judgment read.

It explained that this also applied to retired judges such as Khampepe.

Zuma and Mbeki were ordered to personally pay the legal costs of the failed application.

Ramaphosa backtracks on US role in G7 Summit snub

South Africa walked back its claim that US pressure led to its disinvitation from an upcoming Group of Seven summit in France.

Pretoria's presidency spokesperson, Vincent Magwenya, had said on Thursday afternoon that an invitation to attend the meeting scheduled to take place from June 15-17 had been withdrawn because of "sustained pressure" from Washington. Hours later, President Cyril Ramaphosa said the country hadn't been snubbed.

"My information is that there has been no pressure from any country, the US or any other country," Ramaphosa said in remarks aired by Johannesburg-based broadcaster eNCA. "We haven't attended every G7, so if we don't go to this one it should never be a surprise to anyone."

Magwenya didn't immediately respond to a request for comment sent by text message on Friday morning. The US State Department said it hadn't requested that South Africa be shut out of the G7 meeting.

"We have not asked the French to exclude South Africa from the G7 summit," Nick Checker, who heads the State Department's Bureau for African Affairs, said in an emailed response to a request for comment.

The South African presidency's initial statement suggested a new flashpoint in already strained ties with the US. Relations have deteriorated sharply since Donald Trump's return to the White House last year, with the US president falsely accusing Pretoria of subjecting White farmers to a genocide and seizing their land, denouncing its relations with Iran, and rejecting its Black economic-empowerment policies.

Last year, Trump boycotted a G20 summit that Ramaphosa hosted in Johannesburg, and said South African officials won't be invited to attend this year's meeting in Miami.

French Foreign Minister Jean-Noel Barrot said Kenya, rather than South Africa, had been invited to the G7 meeting. Kenya and France are scheduled to co-host the Africa Forward Summit in Nairobi on May 11-12.

"We did not give in to any pressure," Barrot was quoted as saying by Agence-France Presse. "We made a choice consistent with our decision to hold a streamlined G7 focused on geo-economic issues."