South Africa Private Credit Rises to Highest Since 2023

2025-12-31 06:08 By Judith Sib-at 1 min. read

South Africa’s private sector credit expanded by 7.79% year-on-year in November 2025, after a 7.26% rise in the previous month.

This was the highest growth since February 2023.

Meanwhile, the broadly defined M3 measure of money supply rose by 8.26% to a fresh record high of ZAR 5,845,499 million, following a 7.52% increase in October.



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South Africa Private Sector Credit Growth Hits Three-Year High
South Africa’s private sector credit advanced 8.74% year-on-year in December 2025, following a 7.79% rise in the previous month, and marking the fastest pace of growth since October 2022. Meanwhile, the broadly defined M3 measure of money supply rose 8.16% to a fresh record high of ZAR 5,882,466 million in December 2025 from 8.26% increase in the previous month.
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South Africa Private Credit Rises to Highest Since 2023
South Africa’s private sector credit expanded by 7.79% year-on-year in November 2025, after a 7.26% rise in the previous month. This was the highest growth since February 2023. Meanwhile, the broadly defined M3 measure of money supply rose by 8.26% to a fresh record high of ZAR 5,845,499 million, following a 7.52% increase in October.
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