South Africa Eyes Gradual Economic Recovery as 2026 Growth Forecast Rises to 1 . 6 % – Medafrica Times

medafricatimes.com · Feb 27, 2026 · Collected from GDELT

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South Africa’s economy is projected to expand by 1.6 per cent in 2026, up from an estimated 1.4 per cent in 2025, according to Finance Minister Enoch Godongwana. Delivering the 2026 Budget Speech in Parliament in Cape Town on Feb. 25, 2026, the minister said the country’s growth outlook was steadily improving, with medium-term expansion expected to average 1.8 per cent and reach 2 per cent by 2028. Godongwana cautioned, however, that structural constraints continue to weigh on economic performance. Persistent logistics bottlenecks, fragile public infrastructure and a recent outbreak of foot-and-mouth disease remain significant impediments. He emphasised that inclusive and accelerated growth represents the country’s most sustainable route to long-term stability and shared prosperity. The minister outlined four strategic pillars underpinning the government’s reform agenda: safeguarding macroeconomic stability, advancing structural reforms, investing in growth-enhancing infrastructure, and strengthening state capacity. On fiscal policy, he described the current moment as a turning point for public finances. The consolidated budget deficit is projected to narrow to 4 per cent of GDP in 2026/27, while gross debt is expected to stabilise at 78.9 per cent of GDP in 2025/26 before declining over the medium term. Stronger-than-anticipated revenue collection enabled the withdrawal of 20 billion rand (about 1.26 billion U.S. dollars) in previously proposed tax increases. The budget also introduces a Targeted and Responsible Savings programme, identifying 12 billion rand in savings over the medium term. Infrastructure investment remains central to the growth strategy, with public-sector spending set to exceed 1 trillion rand, covering transport and logistics, rail modernisation, energy transmission and water systems. Godongwana underscored that fiscal sustainability would bolster economic sovereignty and reduce reliance on external debt amid global uncertainty. Source : https://english.news.cn/africa/20260226/1569436cb19d4672ae90eefb43c760e0/c.html ================== ===================== AfDB Unveils Continental Aviation Reform Initiative to Deepen Connectivity https://live.staticflickr.com/65535/53767615772_6a29030e59_b.jpg The African Development Bank (AfDB) has launched the Integrated Aviation Transform Program (IATP), a continent-wide initiative designed to revitalise Africa’s aviation industry and enhance regional air connectivity. The programme was unveiled on Feb. 25 during the Airlines, Capital and Connectivity Forum held in Nairobi and virtually. Mike Salawou, Director of the Infrastructure and Urban Development Department at the AfDB, described the IATP as a strategic roadmap to foster a more integrated, competitive and climate-aligned aviation ecosystem across Africa. He noted that the platform seeks to catalyse collaboration between governments and private-sector actors to unlock sustainable growth within the sector. A central objective of the programme is to improve African airlines’ access to affordable aircraft fleets, thereby expanding intra-African connectivity and strengthening the commercial viability of carriers. The initiative is anchored on three pillars: operationalising the Single African Air Transport Market, reinforcing aviation safety oversight, and advancing skills development within the industry. The two-day forum convened senior government officials, development finance institutions and airline executives from across the continent to deliberate on sector priorities, investment requirements and innovative financing mechanisms. The dialogue underscored a shared commitment to positioning aviation as a driver of economic integration and long-term development in Africa. Source : https://english.news.cn/africa/20260225/562918c4884c4abd9910a738a3c1f450/c.html ========== ===================== NDC Energie Takes Over Former TotalEnergies Network in Mali https://totalenergies.com/sites/g/files/nytnzq121/files/styles/crop_landscape_ratio_9_5/public/images/2022-08/drapeau_France_TTE.png?itok=pnJPPCjd NDC Energie has acquired nearly 80 service stations in Mali previously operated by TotalEnergies, marking the French energy group’s departure from the Malian retail fuel market after more than 25 years. The Malian firm confirmed the acquisition on Wednesday, February 25, signalling a new chapter in the country’s downstream petroleum sector. The service stations were first sold in January 2025 to Coly Energy Mali, a subsidiary of Benin Petro, ending TotalEnergies’ direct operations in Mali. In January 2026, the network changed ownership again, with NDC Energie assuming full control of the assets and consolidating its presence in the domestic fuel market. The transaction represents a strategic shift for NDC Energie, formally known as Niangadou Distribution Company and led by businessman Mamadou Niangadou. Previously recognised as a major fuel importer operating a fleet of approximately 200 tanker trucks, the company is now positioned as a vertically integrated operator, overseeing importation, transportation, storage and retail distribution. TotalEnergies attributed its withdrawal to mounting fiscal pressures, geopolitical tensions with Mali’s military authorities since 2020–2021, and recurring social unrest. The exit mirrors a similar move in 2025 in Burkina Faso, where the company divested around 170 stations to Coris Investment Group, underscoring a broader strategic retreat from higher-risk Sahelian markets. Source : https://www.aa.com.tr/en/africa/malian-company-acquires-former-totalenergies-operations/3839874 ============= =============== Ghana’s Foreign Minister Appeals for Release of Ghanaian POWs During Ukraine Visit https://pbs.twimg.com/media/HCEvaOfWkAARDO_?format=jpg&name=medium On a rare diplomatic mission to Kyiv on Wednesday, Ghana’s Foreign Minister, Samuel Okudzeto Ablakwa, appealed to Volodymyr Zelenskyy for the release of two Ghanaian prisoners of war captured while fighting for Russia. Addressing a joint press conference alongside his Ukrainian counterpart, the minister expressed optimism that humanitarian considerations would guide a compassionate resolution. Russia’s 2022 invasion of Ukraine has drawn foreign fighters and mercenaries from multiple regions, including Africa. Ukrainian authorities disclosed that more than 1,780 individuals from 36 African countries — among them Ghana — had been identified within Russian ranks, with some taken into custody. Ablakwa described the detained Ghanaians as victims of manipulation, disinformation and criminal trafficking networks that lured them into the conflict. The Ghanaian minister commended Ukraine for adhering to international law in its treatment of the detainees, noting reports that the two nationals were in good health and had not been subjected to torture or inhumane conditions. He underscored Accra’s commitment to securing their safe return through diplomatic engagement. Ukraine’s Foreign Minister, Andriy Sybiga, confirmed that discussions on repatriation had been conducted frankly. He also called on Ghana to intensify efforts to prevent recruitment of its citizens into Russia’s military campaign, arguing that such enlistments expose them to grave risk while undermining broader humanitarian considerations. Source : https://www.trtafrika.com/english/article/a2863a07df9c ============== ==================== Israel’s Isaac Herzog Praises Ethiopia as Strategic African Ally After Addis Talks https://pbs.twimg.com/media/HB_v8VLXwAAqGb_?format=jpg&name=medium Israeli President Isaac Herzog has described Ethiopia as a pivotal partner in Africa following high-level discussions with Prime Minister Abiy Ahmed in Addis Ababa. In remarks shared after the meeting on Wednesday, Herzog characterised the talks as productive and reaffirmed the depth of longstanding diplomatic ties between the two nations. Herzog underscored that relations between Israel and Ethiopia are anchored in decades of cooperation and carry significant prospects for expansion. He reiterated Israel’s intention to broaden its diplomatic and economic footprint across Africa, identifying Ethiopia as central to that strategy. According to the president, the bilateral partnership holds substantial untapped potential. The leaders explored avenues for enhanced collaboration across innovation, science and technology, agriculture, food security, water management and energy. They also deliberated on advancing wider regional cooperation aimed at delivering mutual benefits. Herzog expressed hope that future engagement would be guided by principles of regional peace, solidarity and goodwill. During the visit, the Israeli president paid tribute at the Adwa Victory Memorial, honouring Ethiopia’s historic resilience. The trip comes amid a surge in high-level diplomatic activity in Addis Ababa, which has recently hosted leaders including Recep Tayyip Erdoğan and Giorgia Meloni. The succession of visits reinforces the Ethiopian capital’s growing stature as a continental diplomatic hub and the seat of the African Union. Source : https://www.ena.et/web/eng/w/eng_8383217 ================ ========================= Benin Targets Fiscal Stability with 3% Deficit Ceiling, Emphasises Debt Vigilance https://www.gouv.bj/images/gouv.jpg Benin’s 2026 budget aims to keep the fiscal deficit within the West African Economic and Monetary Union (WAEMU) ceiling of 3 percent of GDP, according to IMF report on Wednesday. Authorities plan to anchor fiscal adjustments in the Medium-Term Revenue Strategy through sustained tax revenue mobilisation and streamlined public expenditure. Officials highlighted the importance of rebalancing the debt portfolio toward domestic sources over time, in line with the Medium-Term Debt Strategy. While Benin maintains a moderate risk of debt distress due to stronger debt-carrying capacity, the recent upward revision of central government debt underscores the need for heightened vigilance.