FX.co ★ South Africa's Private Sector Credit Growth Continues to Slow in March

South Africa's private sector credit growth saw a decline in March 2025, marking a continuation of the slowing trend observed in recent months. The central bank's latest reports indicate that private sector credit growth stopped at 3.45% in March, down from 3.68% recorded in February 2025.

The dip comes amidst a broader economic context where consumption and lending are seen to be under pressure from both global economic uncertainties and domestic factors. This decrease aligns with analysts' expectations that the South African economy is recalibrating following previous growth spurts.

Commenting on the data updated as of April 30, 2025, financial experts suggest that while the slide in credit growth reflects caution in the borrowing sector, it also provides the central bank with additional leeway to observe monetary policy effects before any potential adjustments. The decrease may signal a cautious approach by both financial institutions and consumers as they navigate the current economic landscape.