South Africa’s private sector credit increased by 4.98% year-on-year in June 2025, the same pace as in the previous month. Still, this marked the strongest growth since July 2023. Meanwhile, expansion in the broadly defined M3 measure of money supply rose by 7.27% year-on-year to an all-time high of ZAR 5,567,271 million in June, following a 6.86% gain in the preceding period.