South Africa has a new rand-pegged stablecoin. Called ZAR Supercoin, the stablecoin is “purpose-built for South Africa and the wider African market”, according to its backer, New York-listed Super Group. ZAR Supercoin is the second rand-based stablecoin to be launched after ZARP, which was developed by Inves Capital. ZAR Supercoin’s backer is a company called…
Carlos Barria/Reuters Google has committed R688-million to support South Africa’s under-pressure media industry, alongside a separate initiative aimed at fostering its long-term growth. This follows the release of the media and digital platforms market inquiry final report by the Competition Commission on Thursday. It marks an about-turn from earlier this year, when the US search…
The 2025 G20 Summit, scheduled for 22–23 November 2025 in Johannesburg, marks the first time the gathering is held on African soil. Under the theme “Solidarity, Equality, Sustainability,” South Africa aims to shift the centre of gravity of global economic governance toward the priorities of the Global South. Yet the historic moment arrives overshadowed by…
South Africa on Friday secured its first credit rating upgrade in nearly 20 years after S&P Global raised the country’s foreign-currency long-term sovereign rating to “BB” from “BB-“, citing stronger growth prospects, an improving fiscal outlook and reduced contingent liabilities following better performance at state power utility Eskom. National treasury has worked to arrest rising…
Gaby Magomola Digital bank Revolut has appointed former African Bank CEO Gaby Magomola as chairman of its South African subsidiary, all while the digital challenger pursues a formal banking licence with local regulators. In a statement on Friday, Revolut said it has submitted its “section 12” application to the Prudential Authority of the Reserve Bank…
Beijing Automotive Group (BAIC) South Africa is set to significantly ramp up its local manufacturing footprint, with plans to begin assembly of its newly launched B30 off-road SUV at its factory in the Eastern Cape as early as January. Read: Apple has already cancelled the second-generation iPhone Air This move marks a strategic shift toward…
Our data repudiate the idea that same-sex relationships are a reflection of modernity or a Western cultural import We have recently published a study that estimated the prevalence of same-sex unions in South Africa. We analysed household surveys since 2002. We found that 1.4% of men and 1.0% of women in cohabiting relationships were in…
The rand and South African shares and bonds extended their rally on Thursday as investors cheered signs of fiscal discipline after the government’s medium-term budget policy statement. The rand briefly broke below the key R17/US$ level for the first time since February 2023 to touch R16.95 — its strongest in more than two years. The…
For the second time in four months, Spotify is hiking prices in South Africa – this time, though, there’s more value on offer, including lossless (non-compressed) music streaming for the first time. New Premium plans – Lite, Standard and Platinum – are being introduced in five markets around the world: South Africa, India, Indonesia, Saudi…
Home affairs has gazetted (PDF) a screen talent and global entertainment scheme – abbreviated as Stages – a visa reform aimed at boosting South Africa’s standing as a global destination for film and other creative productions. It introduces a digital platform to process visa applications for international film and creative production companies, cutting red tape…
