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Finance News Update | 23 Oct 2026

Writer: Masego M
Masego M
10 minutes ago
3 min read

General Headlines SRD grant extended for another year, Godongwana announces The Social Relief of Distress (SRD) grant will be extended for one more year, beyond its planned end date of March 2027. The government will also continue efforts to link grant recipients to employment, training, and business opportunities through a new platform called MzansiXchange.MzansiXchange will help connect beneficiaries with jobs and skills development programmes while also allowing government departments to verify recipient information and identify fraudulent or duplicate grant claims.The Treasury is introducing stronger verification measures, including biometric checks, which are expected to reduce fraud and save billions of rand over the next few years. Some of these savings will be redirected to important social programmes, including support for women, children, and efforts to reduce child malnutrition.Although the SRD grant has been extended, the Minister of Finance did not provide details on plans to make it a permanent grant. The social assistance budget has been slightly reduced due to a lower-than-expected number of beneficiaries receiving the grant.(MoneyWeb) Markets and Investments Advtech acquires 25% stake in education-focused AI company Advtech, a JSE-listed private education company, has acquired a 25% stake in education technology firm MathU. The investment gives Advtech a seat on MathU’s board and exclusive access to its current and future AI-powered learning solutions.MathU’s digital learning platform has already been used in Advtech schools since 2023 through the Advlearn programme, helping students with subjects such as Mathematics and Physical Science. The platform provides personalised learning experiences, and an English learning solution is expected to be introduced soon.The partnership will support the development of new digital education tools while also expanding educational opportunities. Through MathU Society, the initiative will provide Mathematics and Science support to learners in underserved communities.According to Advtech, the investment strengthens its ability to use technology and artificial intelligence to improve learning outcomes and expand access to quality education across Africa.(MoneyWeb) R10bn in temporary fuel-levy relief announced amid record fuel prices Finance Minister Enoch Godongwana has announced further temporary fuel levy reductions to help South Africans cope with record-high fuel prices caused by global supply disruptions linked to the conflict involving Iran.From 4 November to 1 December 2026, the fuel levy on diesel will be reduced by R3 per litre, while the levy on petrol will be cut by R1.50 per litre. From 2 December 2026 to 5 January 2027, the diesel levy reduction will decrease to R1.50 per litre, and the petrol levy reduction to R1 per litre.The relief measures are expected to provide R10 billion in support to consumers and businesses. To fund this, government will redirect R10 billion that had previously been allocated to the Central Energy Fund. Earlier fuel levy relief introduced between April and June 2026 cost the government approximately R22 billion.The latest intervention comes as fuel prices have reached record levels, with petrol and diesel prices increasing by more than R3 per litre in October after global oil prices rose above $100 per barrel. The Treasury expects lower fuel levy collections due to both the tax relief and reduced fuel consumption as consumers respond to higher prices. (EngineeringNews) Property and Real Estates 

Major new shopping mall opening in South Africa’s friendly city soon

A new shopping centre called The Village on Circular is nearing completion in Gqeberha (Port Elizabeth). The development is located in Fairview on Wessel Swart Drive and will provide residents on the city's growing western side with a convenient new shopping and dining destination.Several tenants have already been confirmed, including Checkers FreshX, MediRite Pharmacy, Wimpy, Steers, PRÍMA Burger, Platō, Bossa, and PostNet. According to the developers, the centre is in its final stages of construction, with finishing work currently underway.The Village on Circular aims to bring a variety of everyday services, shopping, and dining options together in one location, making it easier for residents to access multiple amenities in a single visit. (BusinessTech)

 
 
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