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Recent weeks have seen a noticeable increase in AA88 notices being issued by the South African Revenue Service (SARS). These notices require employers to deduct outstanding tax amounts directly from an employee’s salary. The employer details reflected on an AA88 are typically sourced from SARS records, often based on the most recent IRP5 submission. It...

On Wednesday, 25 February 2026 at 14:00, the Minister of Finance, Mr Enoch Godongwana, will present the 2026 Budget Speech in the National Assembly.

The South African Reserve Bank’s Monetary Policy Committee (MPC) has announced a further reduction of the Repo Rate, cutting it by 25 basis points effective 20 November 2025. This marks the fourth rate decrease for the year. The Repo Rate, which is the benchmark interest rate at which the Reserve Bank lends to commercial banks,...

The South African Reserve Bank’s Monetary Policy Committee (MPC) opted to keep the repo rate unchanged at 7% following its September meeting, marking the first pause since July. The prime lending rate remains at 10.5%. The decision was a close call, with four members voting to hold rates and two in favour of a 25...

The South African Reserve Bank’s Monetary Policy Committee (MPC) has announced a reduction in the Repo Rate by 25 basis points, effective 31 July 2025. This marks the third rate cut in 2025. The Repo Rate, which serves as the benchmark interest rate at which the Reserve Bank lends to commercial banks, will now be...

On 19 May 2022, the SA Reserve Bank has raised South Africa’s interest rate by an amount citizens have not seen since 2016! The increase of 50 basis points, or half a percentage point, rather than the quarter-point steps lenders and borrowers were expecting. The increase, the largest since 2016, takes the repo rate to 4.75%...

The South African Reserve Bank’s Monetary Policy Committee (MPC) has decided to raise the repo rate by another 25 basis points with effect from 24 March 2022. This increase of 0.25%, positions the Repo Rate at 4.25%, which then also increases the prime lending rate of the commercial banks to 7.75%. Reserve Bank governor Lesetja Kganyago said in...

The South African Reserve Bank’s Monetary Policy Committee (MPC) has decided to raise the Repo Rate by 25 basis points with effect from the 19th of November 2021. We have been quite fortunate in that we haven’t had a rate increase for three years, so it was inevitable that an increase had to happen. This...