South Africa’s private sector credit rose by 5.84% year-on-year in July 2025, following a 4.98% rise in the previous two months. Meanwhile, expansion in the broadly defined M3 measure of money supply rose 6.75% year-on-year to an all-time high of ZAR 5,619,278 million in July, slowing from a 7.27% gain in the preceding period.