Crime and corruption: The NPA's Asset Forfeiture Unit has been issued freezing orders totalling R14 billion for State Capture-related cases, and about R8.6 billion in corrupt gains have been restored to the state. The government is also developing a digital forensics capacity to assist law enforcement. The South African
government aims to eliminate money laundering and fraud and get the country off the Financial Action Task Force's "grey list."

SONA bottom line

A somewhat uninspiring SONA, other than the more positive news on the work done to reduce issues at the ports and the plans to improve exports. The majority of the address was focused on changes over the last few decades but with much of the country skeptical of progress, it likely left the majority with less to be positive about than what they were hoping for. Much work still needs to be done to improve sentiment and this change will have to be supported by evidence to have a more sustained impact.

Macroeconomics in brief as at 13 February 2024

Macro Economics