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Rand note and coins.
The South African Reserve Bank‘s (SARB) Prudential Authority says it is difficult to assess the potential impact of tariffs on the economy or financial systems at the moment.
The regulator and supervisor for licensed financial institutions in the country says the financial stability committee has been in talks over tariffs.
Businesses and exporters are bracing for possible 30% US tariffs on imports from South Africa set to take effect from August 1.
Speaking in Midrand following the release of the authority’s 2024/25 annual report, CEO and SARB Deputy Governor, Fundi Tshazibana, says there is so much that is unknown,
“So, it is easier to estimate the impact of a tariff when you know what the level is, which goods and from which date. And then it’s clear. But we’ve had these shifts that have happened since Liberation Day in terms of these announcements. One day you have tariffs then there is a reprieve for a period and then there’s a negotiation,” says Tshazibana.
