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30.04.202606:00:00UTC+00South Africa’s M3 Money Supply Growth Accelerates to 8.96% YoY in March 2026

South Africa’s broad money supply (M3) expanded at a faster annual pace in March 2026, with year-over-year growth rising to 8.96%, up from 8.39% in February 2026. The latest data, updated on 30 April 2026, indicate a continued pick-up in monetary aggregates on a year-over-year basis.

Both the current and previous readings are calculated by comparing each month’s M3 level with the same month a year earlier, providing a year-over-year perspective on monetary growth. The March increase suggests a modest acceleration in liquidity within the South African financial system compared with February’s pace, as captured by the broadest measure of money supply.

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