EBnet | Information resource for the financial services industry

Breaking News

The South African Reserve Bank’s April 2026 Monetary Policy Review published on 22 April, notes that while inflation is currently at the new 3% target, the Iran–Hormuz shock has shifted the outlook higher. Headline CPI is forecast to rise towards 4% this year, but remain within the 2–4% band and return to target by late 2027. The repo rate stays at 6.75% for now, with risks tilted to the upside and markets pricing out earlier expectations of cuts. Read the full report here.

Editor’s Thoughts.

Yesterday’s CPI release showed inflation nudging up to 3.1% in March, still close to the SARB’s new 3% midpoint but with clear upside pressure building from higher oil and shipping costs linked to Middle East tensions. Catch Momentum’s insights into the CPI announcement under Top Picks.

Also released yesterday was the SARB’s April Monetary Policy Review (under Breaking News☝️) which delivered a consistent message: SARB now sees headline inflation drifting closer to 4% before easing back towards target, with rate cuts later and smaller than this Ed had hoped … and some economists now predicting a possible 0.25% increase in interest rates next month. Let’s not forget the upcoming May petrol price announcement, where the Finance Minister is already noting that the fuel levy relief granted to cushion the initial shock can’t be extended forever.

Come on already, when is the South African household budget finally going to catch a break?

On the flip side of the oil story, Ninety One’s Matt Christ and Deirdre Cooper share how elevated, volatile prices and even diesel shortages are becoming a structural tailwind for electrification and clean tech in emerging markets, where cost – not climate virtue – is driving adoption, from Chinese EVs and batteries to grids and renewables across Asia, LatAm and Africa. The year of the Fire Horse indeed.

But at least we can finally opt out of direct marketing (Bowmans).

PS Don’t let the economics distract you from enjoying the recording of yesterday’s webinar, where we unpacked tricky Section 37C death claims with the PFA, lawyers and service providers. Catch the recording here.

Top Picks.

EBnet.Stream Industry Insights: New rules for the Office of the Pension Funds Adjudicator

With Lize de la Harpe, Senior Legal Advisor at Sanlam

A soft inflation reading before the war shock bites

by @Sanisha Packirisamy, Momentum Investments and @Tshiamo Masike, Momentum Investments | Apr 23, 2026

New National Consumer Commission opt-out to direct marketing registry

by @Kate Beretta, Bowmans, @John Paul Ongeso, Bowmans and @Savanna Stephens, Bowmans | Apr 23, 2026

Draft national AI policy: What it means and what to do now

by @Peter Grealy, Webber Wentzel, @Leanne Mostert, Webber Wentzel, @Wendy Tembedza, Webber Wentzel, @Karl Blom, Webber Wentzel and @Aalia Manie, Webber Wentzel | Apr 22, 2026

EBnet.Stream Heatwave Horizons Ep 7: Actuarial Armour – Embedding Climate Risks in Insurance & Pensions (unpacking the assets toolkit)

With John Anderson – Managing Executive: Sanlam Corporate Investments & Pamela Hellig – Head: Insight Life Solutions



Send your articles and content (max 800 words) to the Editor. If you are an independent contributor, your content will be shared as an EBnet Independent Opinion.

Editor’s Live Updates.

The Editor attends many industry conferences and events and will keep you updated from these live through X, as they unfold. She’ll be at all the major conferences in 2026. If you can’t make it, follow her on X to get the highlights straight from the event.

Follow the editor here.