SARS wins 83% of its court cases and the South African town with three mayors in six months
Next week, investors will be watching the release of the July money supply, private sector credit extension, trade data, and August vehicle sales figures.
Nedbank economists expect annual growth in private sector credit extension to remain firm, easing from 7.8% to 7.6% year-on-year.
Growth in loans and advances, excluding investments and bills, is expected to remain unchanged at 7.3%, as some moderation in corporate credit offsets firm household demand.
While corporate lending is expected to remain strong, Nedbank economists forecast its year-on-year growth to ease from 9.6% to 9.5%.
Business confidence has recently been affected by global uncertainty and rising input costs, stemming from the continued war in Iran.
In contrast, the gradual recovery in household credit growth likely continued, with the year-on-year growth rate edging up from 4.9% to 5.0%.
Household borrowing remained supported by earlier interest rate cuts and ongoing withdrawals from people’s retirement savings.
Nedbank economists forecast that South Africa likely recorded another trade surplus in July, but the balance may have come under pressure from rising oil prices.
“Higher oil prices probably kept the import bill elevated, with the rand’s modest depreciation adding marginally to import costs,” Nedbank said.
“Overall, we project a trade surplus of R20.2 billion in July from R17.8 billion in June.”
On Sunday, 30 August, 2026, the rand was trading at R16.17 to the dollar, R21.88 to the pound, and R18.73 to the euro. Gold is trading at $4,453.7 an ounce, while oil prices were at $88.10 a barrel.[Nedbank]
5 important things
SARS taking South Africans to court and winning 83% of its cases: The South African Revenue Service is taking a tougher and more strategic approach to tax disputes, with the taxman now winning 83% of court cases. [DailyInvestor]
The South African town which had three mayors in six months: The Thabazimbi Local Municipality is so unstable that it has had three mayors in six months, with the problems escalating. [Newsday]
South African Bitcoin and stablecoin spending increases by 176%: A new report shows that South Africans are increasingly using Bitcoin and stablecoins for everyday spending, not just as trading assets. [MyBroadband]
South African city ranked among the top 10 in the world for nightlife: Johannesburg has been named the seventh-best city in the world for nightlife, according to Time Out. [BusinessTech]
Oxtail prices surge after SA tightens Argentina import rules: A routine correction to Argentina’s beef import certificate has raised concerns about oxtail prices. [EWN]
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