South Africa

Government will adjust the excise duties on alcohol and tobacco products at above the expected inflation rate in the 2025/26 financial year.

Government has provisionally allocated an additional R19.2 billion over the medium term for the Passenger Rail Agency of South Africa’s (PRASA) critical signalling upgrades.

Minister of Finance Enoch Godongwana has highlighted the real progress achieved by implementing structural reforms through Operation Vulindlela, which is a joint initiative between the Treasury and the Presidency.

Over the next three years, government spending on economic development will be the fastest-growing function at an annual average rate of 8.1%, driven by higher allocations to infrastructure projects.

The government has added R19.1 billion over the medium term to keep approximately 11 000 teachers in classrooms.

The City of Ekurhuleni Mayor, Nkosiphindile Xhakaza, has assured the families of the 13 victims who lost their lives in an accident on Tuesday morning, that the city will provide them with the necessary support during this difficult time.

The South African Revenue Service (SARS) has been allocated R3.5 billion in the current financial year and an additional R4 billion over the medium term.

All social grants, barring the Social Relief of Distress (SRD) grant, are expected to increase from April this year.

The South African government will spend more than R1 trillion over the next three years on public infrastructure in a show of government’s commitment to driving economic growth.

Consolidated government spending is expected to increase from R2.4 trillion in 2024/25 to R2.83 trillion in 2027/28 at an annual average of 5.6%.

South Africa’s economy is projected to grow at an average of some 1.8% from 2025 to 2027, despite sluggish growth over the past decade.

An orange level 6 weather warning has been issued for parts of KwaZulu-Natal over the next two days due to ongoing disruptive rains in the area.

In light of new and persistent spending pressures in health, education, transport and security, government has decided to raise value-added tax (VAT) by 0.5 percentage points in each of the next two years, which will bring VAT to 16% in the 2026/27 financial year.

President Cyril Ramaphosa has emphasised that Africa is not only benefitting from the African Growth and Opportunity Act (AGOA) but is also contributing to the partnership in meaningful ways.

The Department of Trade, Industry and Competition (the dtic) will host South Africa’s first G20 Trade and Investment Working Group meeting from 18 - 20 March 2025.