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The Department of Petroleum and Mineral Resources (DMPR) has announced that petrol and diesel prices will increase by between R3.06 and R7.51 from midnight.

The increase comes amid government efforts to cushion the blow for consumers through the introduction of a temporary R3 decrease in the general fuel levy.

Prices were widely expected to increase steeply as conflict in the Middle East has triggered global exponential increases in the price of Brent Crude Oil.

The adjusted prices for April are:

• Petrol 93 (ULP & LRP): R 3.06 per litre increase.
• Petrol 95 (ULP &LRP): R 3.06 per litre increase.
• Diesel (0.05% sulphur): R7.37 per litre increase.
• Diesel (0.005% sulphur): R7.51 per litre increase.
• Illuminating Paraffin (wholesale): R11.67 per litre increase. 
• Single Maximum National Retail Price for Illuminating Paraffin: R15.60 per litre increase. 
• Maximum Retail Price of LPGas: R1.08 per kg) increase and R1.23 per kg increase in the Western Cape. 

“The average Brent Crude oil price increased from US$69.08 to US$93.67 during the period under review. This is due to the continued tension between the US and Iran, which has affected crude oil supply, especially through the Strait of Hormuz.

“The average international product prices followed the increasing trend of crude oil price. These factors led to higher contributions to the Basic Fuel Prices of petrol, diesel and illuminating paraffin by R5.26 per litre, R9.49 per litre and R10.80 per litre, respectively.

“The prices of Propane and Butane remained the same during the period under review due to lower demand because of the change in season to warmer weather in the Northern Hemisphere. However, shipping costs were higher due to the conflict in the Middle East,” the department explained.

Furthermore, the Rand depreciated against the US Dollar during the period under review – weakening from R16.00 to R16.64 Rand per USD.

“This led to higher contributions to the Basic Fuel Prices of petrol, diesel and Illuminating Paraffin by 56.18 c/l, 78.07 c/l and 83.21 c/l respectively,” the department continued.

The temporary reduction of the general fuel levy will take effect in April – bringing relief by some R3 to the price at the pumps. – SAnews.gov.za

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National Treasury and the Department of Petroleum and Mineral Resources have announced a temporary R3 reduction to the general fuel levy to mitigate the effects of rising fuel prices – bringing some relief to motorists.

The price of Brent crude oil has seen a sharp increase – jumping from about 69.08 US Dollars (USD) to at least 93.67 USD – as a result of rising conflict in the Middle East placing strain on supply chains across the world and consequently triggering increased local fuel prices.

“Recent data from the Central Energy Fund Group suggests historically high fuel price increases from April 2026 as a result.
“Consultations have been held between the National Treasury and the Department of Mineral and Petroleum Resources to explore measures to provide short-term relief to consumers, while maintaining a stable and sustainable fuel supply system.

“The agreed approach consists of an immediate intervention for the next month, and a broader package of measures to support households and key sectors of the economy,” a joint media statement on Tuesday read.

This as all grades of petrol are set to rise by R3.06 a litre on Wednesday. The price of diesel will also rise by between R7.37 per litre and R7.51 per litre. 

According to the departments, the package of measures will be implemented in two phases.

Phase one is as follows:
•    The Minister of Finance proposes that the general fuel levy is temporarily reduced by R3 per litre from Wednesday 1 April 2026 to Tuesday 5 May 2026. This will reduce the general fuel levy for petrol from R4.10 per litre to R1.10 per litre and reduce the general fuel levy for diesel from R3.93 per litre to R0.93 per litre for one month. These amounts exclude other levies such as the Road Accident Fund levy and the Carbon Fuel Levy.
•    It is estimated that the partial reduction in the fuel levy will cost around R6 billion in foregone tax revenue for the one-month period. The relief measure will be re-evaluated on a monthly basis for the following two months.
•    The relief measure is designed to be fiscally neutral, and the government will implement mechanisms to recoup the foregone revenue within the fiscal framework approved during the 2026 Budget.
•    In reaching this decision, the Minister of Finance sought to balance the socio-economic impact on the country and welfare impact on South African consumers, specifically regarding food and transport inflation, with the fiscal objectives announced in the February Budget.
•    Government further wishes to assure the public that there is sufficient fuel supply in the country to meet current and projected demand. Reports of shortages in certain areas are largely due to localised distribution and logistical challenges driven by panic buying rather than a lack of national fuel stocks and these are expected to self-correct in the next coming days. Motorists and businesses are encouraged to purchase fuel responsibly and avoid unnecessary stockpiling.

Phase two of the broader package measures includes:
•    The Minister of Mineral and Petroleum Resources will continue work to review fuel pricing over the medium term. 
•    Work is underway on a broader package of measures to support households and key sectors of the economy. Further details on additional support measures will be announced in due course. 

“Government remains committed to balancing economic sustainability with the need to protect consumers,” the statement concluded. – SAnews.gov.za

 

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South Africa recorded an increase in employment in the fourth quarter of 2025, with total jobs rising by 18 000 or 0.2% to 10.55 million in December, from 10.53 million in September.

This is according to the latest Quarterly Employment Statistics released by Statistics South Africa (StatsSA) on Tuesday.

The quarterly gain was driven primarily by growth in the trade sector, which added 37 000 jobs, and business services, which increased by 17 000. 

Employment in electricity remained unchanged. These gains were partially offset by declines across several industries, including construction, which shed 13 000 jobs, manufacturing with a loss of 11 000, community services down 5 000, transport down 4 000 and mining down 3 000.

Despite the quarterly increase, total employment fell by 102 000 jobs, or 1.0%, compared with December 2024.

Full-time employment rose by 14 000 jobs, or 0.1%, to 9.43 million over the quarter. Growth was recorded in trade, business services and community services, while electricity employment remained flat. Losses were reported in construction, transport, manufacturing and mining. 

Part-time employment increased by 4 000 jobs, or 0.4%, reaching 1.12 million in December. Gains were recorded in trade, business services and transport, while electricity again showed no change. However, part-time employment declined in community services, manufacturing and construction. 

Gross earnings paid to employees rose sharply over the quarter, increasing by R74.7 billion, or 7.4%, from R1.01 trillion in September to R1.08 trillion in December. The increase was broad-based across all industries, including community services, business services, trade, manufacturing, construction, transport, electricity and mining. 

Year-on-year, gross earnings increased by R49.6 billion, or 4.8%.

Basic salaries and wages increased by R16.6 billion, or 1.8%, to R930.8 billion in December, with gains recorded across all industries. On an annual basis, basic wages rose by R40.4 billion, or 4.5%.

Bonus payments saw a significant quarterly surge, rising by R58.1 billion, or 92.5%, to R120.9 billion. This increase was driven by higher payouts in business services, trade, community services, manufacturing, construction, transport and electricity. Compared with December 2024, bonuses increased by R8.6 billion, or 7.6%.

Overtime payments edged up by R41 million, or 0.1%, to R28.4 billion, supported by increases in community services, construction, manufacturing and trade. Declines were recorded in business services, transport and electricity. 

Average monthly earnings increased marginally by 0.1% to R29,690 between August and November 2025, while annual growth in average monthly earnings stood at 4.9% between November 2024 and November 2025. – SAnews.gov.za

 

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The sixth annual South Africa Investment Conference (SAIC) comes at a time when the South African government is poised to accelerate economic growth, turn pledges into shovel-ready projects and improve the lives of all South Africans.

This according to President Cyril Ramaphosa, who set the tone for SAIC 2026 in his opening address on Tuesday.

SAIC is South Africa’s premier and high-level platform to mobilise investment, showcase opportunities within the borders of the country, and translate investments into tangible outcomes, such as employment.

“This sixth South Africa Investment Conference stands at the crossroads of opportunity and ambition, ready to turn pledges into projects on the ground. The shift in our economic trajectory that we are witnessing now is the result of deliberate, sustained structural reform being driven by Operation Vulindlela.

“Operation Vulindlela, which means “to open the way”, is a joint initiative of the Presidency and National Treasury, working together with other government departments to drive the implementation of far-reaching economic reforms for more rapid growth.

“Its mandate is simple: to reduce the cost and risk of investing in South Africa; not through speeches but through measurable implementation,” President Ramaphosa stated.

Stating the case

The President told delegates that South Africa is an investment destination of choice – citing the resilience of the economy as one of the reasons.

“Today, South Africa is the largest, most industrialised, open and diverse economy on the African continent. Our economy is dynamic, enterprising, and is finely calibrated for growth and powered by innovation.

“We have an economy that has proven itself to be remarkably resilient. It weathered the transition from apartheid, the global financial crisis, years of State capture, a debilitating energy crisis, and the COVID-19 pandemic,” President Ramaphosa said.

Furthermore, the President highlighted that South Africa’s economy has “maintained core financial and institutional stability”, despite strong headwinds.

“This year’s South Africa Investment Conference takes place against a backdrop of growth and recovery. Investment conferences such as this are an opportunity for us to showcase the attractiveness of investment opportunities in our country to domestic and international investors.

“By connecting investors with local opportunities, we are able to attract foreign direct investment (FDI). They also facilitate strong partnerships by bringing together governments, business, banks and development finance institutions,” he said.

President Ramaphosa noted that as the more than 1 000 guests gathered for the conference, uncertainty reigns in the global economy.

“Geopolitical fragmentation, supply chain disruptions from conflicts and wars and trade tensions are radically impacting global capital flows,” he said.

In these conditions, the President added that South Africa presents a “favourable proposition as a resilient, credible and reform-oriented investment destination with strong fundamentals”.

“Your presence here today signals that as investors, you see what we see: real and enduring potential, long-term value and untapped opportunity.

“Today, we have with us more than 1 000 delegates from more than 50 countries, who believe in South Africa’s potential and see this as a favourable place to invest and do business.

“You are here because you want to be part of our growth story,” President Ramaphosa said.

Attracting investment

During the first iteration of the SAIC’s investment cycle, companies pledged some R1.5 trillion in investments – exceeding the R1.2 trillion target set by the President in 2018.

The commitments were in various sectors, including energy, telecommunications, infrastructure and mining.

“This proved that South Africa is an investable market and ready for business. Our investment strategy is anchored in sectors that will drive growth and create jobs at scale, including manufacturing, mining beneficiation, digital infrastructure, agriculture, and green industrialisation.

“This sixth [SAIC] is being convened under the 3 D’s framework, namely: Decarbonisation, Digitisation and Diversification, with the ‘Ease of Doing Business’ being a cross-cutting theme,” President Ramaphosa explained.

During this iteration, government is targeting pledges of some R2 trillion over the next five years.

“This is not ambition for its own sake. It is the arithmetic of what South Africa requires to achieve meaningful unemployment reduction, to industrialise at scale, to lead Africa’s green transition and to build the infrastructure on which our people’s futures depend. We do so with a keen appreciation of the current state of foreign direct investment (FDI).

“Although we remain a significant continental player, accounting for between 15 and 20% of Africa’s total FDI, our growth depends heavily on domestic investment.

“The opening position of the second drive is the R415 billion confirmed fixed investment and R 474.8 billion in FDI being announced in this room today. That brings the total to R 889.8 billion. That’s 81 projects, nine provinces, 22 source markets, and over 230 000 permanent jobs,” President Ramaphosa announced.

Rounding up his remarks, the President dubbed the second investment cycle as a the start of an “era of new growth and dynamism for South Africa’s economy”. 

“The accountability framework is unchanged from the first drive. Every investment announcement is vetted and signed and represents a firm commitment by the business leaders in this room. Every year, we will report back on what has been promised and what has been delivered.

“As we seek to deepen our trade and investment relations, we remain committed to maintaining policy certainty and to accelerating the momentum of the structural reform agenda.

“We are a country in the throes of reform. We are creating the conditions for investment–led growth that is broad–based, inclusive, and durable. Let us move forward together – with confidence, with partnership, and with a shared commitment to South Africa’s success,” President Ramaphosa concluded. – SAnews.gov.za

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The South African government is implementing “far-ranging changes” to support improved economic performance through implementing reforms in key sectors, including electricity, the visa regime, water and at Transnet.

This was the assertion made by President Cyril Ramaphosa as he opened the sixth annual South Africa Investment Conference (SAIC) currently underway in Sandton, Johannesburg.

Some 1 000 delegates are in attendance from at least 50 different countries.

“A key priority for Operation Vulindlela from the outset was the crucial building block of visa reform to attract skills and grow the tourism sector. We know that investors aren’t just deploying capital, you need to establish a physical presence without undue bureaucratic delays. This is particularly critical for multinational firms that require seamless movement across borders.

“We have [also] restructured the national power utility Eskom; established a National Transmission Company as an independent grid operator, and created the transparent, rules–based framework for grid access that private investors require.

“Through the Energy Action Plan…we have brought an end to load shedding and ensured a reliable supply of electricity. This is essential to allow businesses to operate and make decisions to invest,” he said.

Reforms in the electricity sector have also unlocked a growing pipeline of projects with some 220 GW of renewable energy projects in “development and 36 GW already in the grid connection process”.

Further investments are expected in solar, wind and battery storage capacity over the next five years.

“At the same time, we are moving to enable private investment in expanding our transmission network through Independent Transmission Projects for the first time.

“Decarbonisation will create new industries, new jobs, and new opportunities in green hydrogen, battery storage, electric vehicle manufacturing and in the manufacture of components and infrastructure that a decarbonising world urgently needs.

“The R29 billion in confirmed renewable energy investment today is a vote of confidence in our rapidly transforming energy sector,” the President stated.

Rail and water

Key to South Africa’s reform programme is the National Rail Policy of 2022, together with the National Freight Logistics Roadmap of 2023.

These policies are aimed at paving the way for private investment in the port and rail operations.

“Last year we…signed a 25-year concession for the Durban Container Terminal Pier 2, representing R11 billion in private investment in one of South Africa’s most critical logistics nodes.

“A transparent and effective regime for third-party access to the freight rail network is now in place. Forty-one freight rail slots have been allocated to private train operating companies, and we expect the first private operator to commence operations in April 2027.

“By ending inefficient monopolies and introducing competition, we will reduce the cost of electricity and transport over time, enabling our manufacturing, mining, agriculture and other industries to thrive and compete,” the President said.

The water sector continues to receive “strategic focus under the structural reform agenda”.

“First, we are establishing professionally run water utilities in all eight metros, with water revenues ring-fenced and invested back into maintaining and expanding water infrastructure.

“Second, we are establishing a robust regulatory framework to ensure that water service providers perform their functions effectively, and face consequences where they do not.

“We have embarked on a massive water infrastructure build programme including dam construction, distribution infrastructure upgrades, bulk water expansion and desalination. One such project is Phase 2 of Lesotho Highlands Water Project that is targeted for completion between 2028 and 2030,” President Ramaphosa explained.

Those projects will be overseen by the newly formed National Water Resources Infrastructure Agency.

“The water sector is ripe for investment, and we have set up a dedicated Water Partnerships Office to facilitate private sector participation in areas such as reducing non-revenue water, investing in wastewater treatment, water desalination and reuse, with more than R50 billion in projects already in development.

“Our structural reform agenda has laid the foundations – now we are harnessing its momentum,” the President said.

Infrastructure investment

Although government has called for private sector investment in infrastructure, the state has committed to investing some R1 trillion over the medium term for public infrastructure.

Of this allocation:

• R577.4 billion will be spent by state-owned companies and other public entities; 
• R217.8 billion by provinces; and 
• R205.7 billion by municipalities. 

Transport and logistics will make up the lion’s share of expenditure.

“We are embarking on the largest and most ambitious cycle of infrastructure investment in our country’s history.

“Infrastructure is the flywheel that propels growth. It boosts productivity and trade and reduces the cost of doing business. It creates immediate and meaningful employment – at scale. With this unprecedented investment, we are kickstarting the cycle,” the President added.

Furthermore, the state will be using “innovative funding models” such as the Infrastructure Fund aimed at reducing risk and to “attract investors to fast-track infrastructure projects”.

“Last year, the Fund approved blended finance projects with a combined value of approximately R38 billion in water and sanitation, student accommodation, health, energy and transport.

“Last year, we also issued regulations for public private partnerships [PPP’s] in support of attracting more private sector participation and investment in the national infrastructure build.

“Lastly, we are also deploying innovative instruments such as the Credit Guarantee Vehicle to de-risk private investment in infrastructure,” he said.

No one left behind

The President assured that as the country’s economy begins to grow, no one will be left behind.

“As South Africa, we remain committed to staying the course on fiscal discipline and to accelerating the momentum of the reform agenda – but also to leveraging investment to build an economy that is inclusive, transformed and that benefits all.

“The transformation of our economy is necessary to drive sustained growth, reduce inequality and correct the injustices of the past. We are undertaking a review to refine, realign and strengthen our B-BBEE framework to ensure that it supports transformation while at the same time enabling investment and growth,” he said.

This framework, he explained, provides a “foundation for inclusive growth by expanding participation in the economy and enabling us to harness the skills and contribution of all South Africans”.

“What makes South Africa’s empowerment laws distinct is that they are practical and innovative. In addition to pure equity participation measure we also have an Equity Equivalent Investment Programme [EEIP].

“It was created to accommodate multinationals whose global practices or policies prevent them from complying with the B-BBEE ownership element to invest in socio-economic, skills and enterprise development in South Africa without selling equity in their local subsidiaries.

“Since its inception, the EEIP has onboarded some of the world’s leading multinational firms who have leveraged the programme to direct investment into local development, to incubate black, youth and women-owned businesses, and to fund skills development. Our overriding objective is to support firms with compliance, and to embrace empowerment as a meaningful investment in South African’s long-term economic stability,” President Ramaphosa assured. – SAnews.gov.za

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South Africa is positioned to rise to the challenges posed by the complex task of attracting investments that are set to further propel the country’s development trajectory, says Trade, Industry and Competition Minister Parks Tau.

At the opening of the sixth South Africa Investment Conference (SAIC) on Tuesday in Gauteng, Tau reiterated the country’s ability to turn investor confidence into tangible returns, framing it as an “investment destination of choice”. 

“We have learned that complexity is not a reason for paralysis but rather, it is a prompt call for action. South Africa has turned the corner,” Tau said.

With improving economic indicators, including four consecutive quarters of Gross Domestic Product (GDP) growth, a stabilising national debt and three years of primary budget surpluses, President Cyril Ramaphosa has recently reiterated the qualities that signal the country’s value as an investment drawcard for global players.

READ | New investment signals confidence as SA economy turns a corner

At the highly-anticipated 2026 edition of SAIC at the Sandton Convention Centre, Minister Tau said the progress made to turn South Africa’s fortunes around is largely attributable to steady and accelerating efforts, including expanding its footprint in external markets.

“South Africa is the continent’s leading exporter of manufactured goods and its largest outward investor.”

Tau acknowledged the impact of major economies “turning inward” in the face of global volatility – something that affects economies such as South Africa, which are characterised by “openness” and reliance on trading with others. 

“When the status quo was upended in April 2025, many predicted a reckoning. The prognosis was steep. Tens of thousands of jobs in citrus, wine and vehicle manufacturing in South Africa were said to be at risk. 

“Economists estimated the tariff shock could shave off measurable points of growth. It was, in the parlance of the moment, a crisis. South Africa did not reach Armageddon and instead, we demonstrated resilience,” Tau said.

Maximising existing trade relations

Tau said South Africa activated the Export Support Desk to redirect affected exporters into alternative markets. 

“We accelerated negotiations with China and Thailand on agricultural protocols. What is evident is that South Africa has indeed turned the corner.

“South Africa has turned the corner. Consider the evolution of our trade partnerships over the past three years. With Europe, we did not simply manage an existing relationship; we remade it.

“South Africa is the first CTIP [Clean Trade and Investment Partnership] partner of the EU [European Union] because of who we are and what we represent — the largest investment partner in Sub-Saharan Africa, with bilateral trade flows of R860 billion rands in 2024, offering a stable, predictable and profitable market, and representing the most industrialised gateway to the African continent and a lot more.”

Tau said the EU has mobilised a combined investment package of nearly R230 billion for South Africa under its Global Gateway initiative, covering the Just Energy Transition, critical raw materials, digital connectivity, and pharmaceutical value chains.

“Across the Middle East, new partnerships with the UAE [United Arab Emirates], Qatar and Saudi Arabia are advancing, supported by a coordinated effort between the Presidency, DIRCO [Department of International Relations and Cooperation], and the Department of Trade, Industry and Competition (dtic) to make inroads into high-growth markets that a decade ago barely featured in our trade portfolio,” the Minister said.

Ready to build

The ability to “turn the corner”, Tau said, is just the first chapter of illustrating South Africa’s trade abilities. 

“…We have (also) demonstrated our capacity to turn investment commitments into operational projects and real economic activity. 

“When President Ramaphosa launched this Investment Conference platform in 2018, we set an ambition that many regarded as both aspirational and inspirational. Eight years on, the first five-year investment mobilisation drive exceeded its target.

“Over 300 projects were initiated; 161 are either completed or in active construction. More than R600 billion of those commitments have already flowed into the real economy,” Tau said.

With the case for South Africa’s capabilities and potential clearly demonstrated, SAIC 2026 marks a shift from high-level planning to a more focused phase of implementation, as government accelerates delivery on existing investment commitments.

Government is targeting an additional R2 trillion in investment commitments over the next five years. This builds on the first five conferences, which secured a combined R1.5 trillion in pledges, with more than R600 billion already invested in the economy.

These investments have supported the establishment of new factories, mines and industrial facilities, contributing to job creation, poverty reduction and efforts to address inequality. – SAnews.gov.za

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