Cape Times 2026-04-23

A momentary boost was given to global markets after United States (US) President Donald Trump announced an indefinite extension of the ceasefire with Iran. The US blockade of the strategically crucial Strait of Hormuz is set to remain in place, which keeps concerns over oil supply firmly on the table. Trump said the ceasefire would last until such a time as Tehran could submit a ‘unified proposal’ to end the war. Brent crude oil prices remained elevated as it tested the $100/barrel level yesterday morning, with market analysts taking a cautious approach. It dropped slightly as the day went on to about $98 per barrel. Neil Wilson, Saxo UK Investor strategist said, “The direction of travel is what matters here, and the extension of the ceasefire…

Capitec’s annual financial results showcase its rapid growth into a highly contested and relatively new initiative by the bank: business banking. Business banking gained strong momentum as more entrepreneurs and small businesses responded to their value proposition built on low fees, strong service, and faster credit approvals, CEO Graham Lee said at the release of annual results for the year to February 28. Capitec first announced its plans to enter the business banking market in 2019. Since then, there has been a wave of new initiatives, such as Tymebank Business launched in 2023, Bank Zero's app-based business banking, and Lulalend expanding from SME lending into full-service digital banking. Other major banks—Standard Bank, FNB, Absa, and Nedbank—have also all enhanced their business banking offerings. Capitec’s results yesterday showed that businesses and…

Commission launches sweeping review of regulations that hinder growth of business activity The Competition Commission has launched a sweeping review of regulations that may be stifling competition and preventing small and medium enterprises (SMEs) from entering or expanding in key markets, in a bid to reduce red tape and boost inclusive economic growth. The initiative, announced yesterday, forms part of broader national efforts to improve the ease of doing business and create a more competitive economic environment. It follows calls by President Cyril Ramaphosa in his 2026 State of the Nation Address to streamline regulatory processes and remove unnecessary administrative burdens that hinder business activity. Ramaphosa reaffirmed government’s intention to push ahead with the Business Licensing Bill, despite mounting opposition from business groups, civil society organisations, and small business owners…

Consumer price inflation (CPI) data released yesterday indicated a slight increase to 3,1% in March 2026 from 3,0% in February 2026. Economists have warned that the slight increase is calm before the storm and inflation could spike from this month due to rising oil and fuel prices caused by Middle East tensions. Stats SA said that annual consumer price inflation was 3,1% in March 2026, up from 3,0% in February 2026. “The CPI increased by 0,6% month-on-month in March 2026.” John Loos, an independent economist, said that Headline CPI (Consumer Price Index) inflation in March accelerated slightly. “The Housing and Utilities CPI was the biggest single driver of overall CPI inflation, increasing its contribution due to a residential rental inflation acceleration." Investec chief economist Annabel Bishop said that March’s CPI…

South Africa’s new vehicle market has roared into 2026 with renewed momentum, surpassing a key milestone for the first time in a decade as improving economic conditions boost consumer and business confidence. Data reported to the Automotive Business Council (naamsa) shows that combined vehicle sales for January and February reached 103,918 units, marking a strong 9.8% increase from the 94,632 units recorded during the same period in 2025. The performance represents the first time since 2015 that cumulative sales have exceeded the 100,000 mark by the end of February. In March, aggregate domestic vehicle sales climbed to 58,060 units, marking a 17.3% increase compared to the same period last year. According to Lightstone Auto data analyst Andrew Hibbert, the early-year surge signals a significant recovery in the domestic automotive sector.…

The Department of Trade, Industry and Competition (the dtic) has set an ambitious target to facilitate more than 100,000 job opportunities in the new financial year, placing industrial expansion and investment at the centre of South Africa’s economic recovery strategy. Presenting the department’s Annual Performance Plan (APP) before Parliament’s portfolio committee on trade, industry and competition on Tuesday, Minister Parks Tau said the roadmap builds on the priorities of the 7th administration and seeks to translate policy into tangible economic outcomes. “This APP will outline our priorities for the coming financial year, including placing emphasis on our new industrial policy, our investment targets and our trade relations, emphasising implementation and moving from the foundation we built in the previous financial year,” Tau said. As South Africa seeks to rebuild its…