South Africa in March 2026: the most important developments in economy
South Africa's economy in March 2026 was shaped by the war involving Iran and its effect on fuel. Shipping companies diverted vessels around the Cape of Good Hope from 1 March. Oil neared 80 dollars on 2 March while Sasol shares jumped 12 percent, and oil passed 100 dollars by 9 March, raising inflation risks. South African Airways raised ticket prices amid higher jet fuel costs. By mid-month the government was racing to secure fuel supplies while trying to avoid tapping reserves, and Mantashe pushed an oil and gas drive. Fuel prices rose on 21 March, South Africa and other countries sought a fuel deal with Nigeria's Dangote refinery, a debate opened on domestic oil exploitation, and Mantashe vowed a crackdown on fuel hoarders on 26 March.
Company news was mixed. MTN posted higher earnings on improved key markets, and Remgro almost doubled its dividend. Impala Platinum stayed cool on new projects despite a price rally, Glencore could walk away from talks on rescuing a South African smelter, and De Beers made sweeping cuts to its diamond-buying club.
At Eskom, the utility targeted old coal stations for new nuclear plants, offered workers a 6.5 percent pay rise after months of talks, and planned to test carbon capture at a coal-fired station. On 25 March it dug in against President Ramaphosa's unbundling plan.
by WorldBrief & Maksim Micheliov | AI-generated summary
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