The South African Reserve Bank published South Africa’s international investment position (IIP) statistics for end-September 2025, showing the net positive position increased marginally to ZAR 2,488 billion from ZAR 2,458 billion at end-June as the market value of foreign assets rose more than foreign liabilities. As a share of annual gross domestic product, the net IIP was broadly unchanged at 33.0%. Foreign assets increased 4.8% to ZAR 10,454 billion, with gains across all functional categories except a slight decline in reserve assets. Portfolio investment assets were supported by a 7.8% rise in the S&P 500 Index and higher values of dual-listed companies, while other investment assets rose as private banks extended short-term loans under resale agreements to non-residents and increased deposits at non-resident banks, alongside additional short-term lending by the private non-banking sector. Foreign liabilities increased 5.9% to ZAR 7,966 billion, reflecting higher portfolio investment liabilities amid an 11.9% rise in the FTSE/JSE All-share Index and non-resident net purchases of rand-denominated government bonds, partly offset by the redemption of a USD 2.0 billion international bond; direct investment liabilities declined, mainly due to Anglo American Plc’s sale of its remaining equity in Valterra Platinum Limited. The next IIP release, covering end-December 2025, is scheduled for the end of March 2026.
South African Reserve Bank 2025-12-31
South African Reserve Bank reports South Africa’s net international investment position increased to ZAR 2,488 billion at end-September 2025
The South African Reserve Bank reported a marginal increase in South Africa's net international investment position to ZAR 2,488 billion at end-September 2025, driven by a rise in foreign assets. Foreign assets grew by 4.8% to ZAR 10,454 billion, while foreign liabilities increased by 5.9% to ZAR 7,966 billion, influenced by higher portfolio investment liabilities and non-resident purchases of government bonds.