For Creamer Media in Johannesburg, I’m Halima Frost.

Making headlines: South Africa’s cagey central bank to cut rates sparingly in 2025; ANC says ICC arrest warrants a legal victory; And, Parly committee says G20 Presidency a strong endorsement of SA's foreign policy approach

South Africa’s cagey central bank to cut rates sparingly in 2025

South African Reserve Bank Governor Lesetja Kganyago’s repeated emphasis of uncertainty is expected to translate, at most, into only a handful of additional interest-rate cuts next year.

The central bank, which lowered its policy benchmark by 25 basis points yesterday to 7.75%, said its model showed rates easing further, stabilising a bit above 7%, but emphasised that the projection was a broad policy guide.

He also acknowledged that while inflation has slowed, Donald Trump’s election as US president could create upside risks for price pressures.

South Africa’s annual rate of inflation fell to 2.8% in October, below the central bank’s 3% to 6% inflation target. Still, the Reserve Bank lifted its forecast slightly for inflation in late 2025 and 2026 and noted that risks to the outlook “requires a cautious approach.”

Kganyago, in his final monetary policy press conference of the year, declined to comment directly on the US election but said that additional trade protectionism could have implications for interest rates.

ANC says ICC arrest warrants a legal victory

The African National Congress said it regarded the International Criminal Court’s decision to issue arrest warrants for Israeli Prime Minister Benjamin Netanyahu, former Israeli Defence Minister Yoav Gallant and Hamas military chief Mohammed Deif, as a legal victory and a moral triumph, with the GOOD Party saying the warrants are also of symbolic importance to the ICC.

Yesterday, the ICC issued the arrest warrants related to war crimes charges, drawing criticism from Israel.

The announcement followed an application by the ICC’s chief prosecutor in May for arrest warrants over charges related to the October 7 attack on Israel by the Hamas militant group, and to the Israeli military response in Gaza.

The ANC said the actions of Netanyahu and Gallant—targeting Palestinian civilians through violence, starvation, and systemic persecution—served as a grim reminder of the cruelty endured by Soiuth Africans under apartheid.

Meanwhile, the GOOD Party stated that it was the first time the court had acted against alleged war criminals that the West regarded as friends, highlighting that the enforcement of ICC warrants of arrest had been reduced to political decisions.

And, Parly committee says G20 Presidency a strong endorsement of SA's foreign policy approach

International Relations and Cooperation Parliamentary Portfolio Committee chairperson Supra Mahumapelo said that the G20 Presidency was a “huge” vote of confidence in the country’s approach to foreign policy, as he urged government to “go out of its way” to make South Africa’s G20 Presidency meaningful to South Africans.

On Tuesday, South Africa become the first African country to hold the G20 Presidency, after it took over from Brazil.

The term will run from December 1, 2024 to November 30, 2025.

The committee welcomed South Africa being trusted with the responsibility of leading the G20 countries.

Mahumapelo said South Africa’s Presidency of the G20 block should not be ceremonial and but be influential in its diplomatic work.

He said the G20 is a significant block of economies that, if well-manipulated, could yield serious results for the country in both foreign direct investment as well as diplomatic relations.

He urged government to “adequately exploit this opportunity”, which he said rarely happened.

That’s a roundup of news making headlines today

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