Lesetja Kganyago

African Leadership Magazine announces nominees for the 16th African Business Leadership Awards 2026.

The South African Reserve Bank appoints Konstantin Makrelov as its chief economist and sixth MPC member.

Moody's confirmed South Africa's debt has peaked at 86.8% of GDP, maintaining Ba2 rating with stable outlook, though geopolitical tensions and Iran war could reduce growth by 0.2-0.5 percentage points through 2027.

South Africa's central bank governor Kganyago stated policymakers must maintain flexible interest rate options amid geopolitical tensions and inflation concerns, as headline inflation rose to 3.1% in April and economists project further increases above 4%.

Kganyago signals possible rate hikes as oil shock risks spill into broader inflation

The IMF downgraded emerging-market growth forecasts to 3.9 percent from 4.2 percent for 2026 due to Iran war disruptions, while raising inflation expectations to 5.5 percent, prompting most emerging-market central banks to pause rate cuts and align closely with Federal Reserve policy decisions.

Reserve Bank governor Lesetja Kganyago sees no near-term path for easing interest rates due to Middle East conflict volatility.

Citi warns South Africa's central bank may raise interest rates by 75-100 basis points in 2025 as Iran conflict disrupts global oil supplies, pushing crude prices up 15% and threatening inflation amid South Africa's 60% crude oil import dependency.

South Africa cuts fuel tax to soften the impact of surging global oil prices. Finance Minister Enoch Godongwana aims to contain inflation. The move is in response to conflict-linked supply disruption in the Middle East.

MPC preview: SA Reserve Bank faces tough choices amid inflation uncertainty

South Africa's new 3% inflation target faces its first test amid fuel price shocks.

South African Reserve Bank Governor Kganyago stated policymakers must maintain flexible interest rate options amid geopolitical shocks and inflation concerns, as headline inflation rose to 3.1% in April while economic growth strengthened despite debt stabilization challenges.

South African Reserve Bank Governor Kganyago stated policymakers must maintain flexible interest rate options as geopolitical shocks and inflation expectations above the 3% target threaten economic stability, with April inflation rising to 3.1%.

South Africa's inflation rises, signaling a potential turning point, as global oil prices increase.

South Africa's central bank governor stated the Middle East war's commodity price volatility makes near-term interest rate cuts unlikely, as inflation pressures persist and economic growth faces headwinds from the geopolitical conflict.

The South African Reserve Bank holds interest rates at 6.75%, a win for property with neutral impact on homeowners.

Semafor convenes over 500 global CEOs and leaders from 80 countries next week in Washington, featuring US Cabinet members and international finance ministers addressing markets, policy, and economic leadership decisions.

European stocks closed mixed Monday as Middle East tensions and elevated oil prices drove geopolitical uncertainty, with energy shares gaining while luxury stocks declined amid concerns over inflation and monetary policy implications.

Moody's expressed confidence in South Africa's government and central bank, expecting measured policy responses to Middle East conflict risks, though the war threatens near-term growth by 20-50 basis points while high oil prices strain fiscal space and inflation targets.

South Africa's central bank governor maintains strict inflation targets despite global instability from war and rising debt, arguing that disciplined monetary policy remains essential for economic recovery once external shocks subside.

South African fuel prices surge Wednesday by R3.27 per liter for petrol and R6.19 for diesel due to Middle East tensions, intensifying inflation pressures and forcing the Reserve Bank to delay interest rate cuts despite government levy interventions.

The latest interest rate hold decision brings stability, but its impact varies depending on market position.

South Africa's interest rate cuts expected in 2026 have vanished due to Iran's war, which raised global oil prices and weakened the rand, threatening to push inflation to 4.8%, forcing the SARB to potentially raise rates instead.

South Africa's central bank governor said the Middle East war's volatility makes near-term interest rate cuts unlikely, citing inflation pressures from surging commodity prices and the conflict's growth-negative impacts on the economy.

Semafor is hosting the largest US economic leadership gathering next week in Washington, bringing together over 500 global CEOs and leaders from eighty countries, including Treasury Secretary Scott Bessent and international finance ministers, to shape critical market and policy conversations.