BLSA CEO Busisiwe Mavuso – Business Leadership South Africa (BLSA):
BLSA welcomed the President’s optimistic tone that South Africa is stronger than a year ago, crediting achievements such as improved credit ratings, removal from the FATF grey list, low inflation, a stronger rand, lower borrowing costs, and strong JSE performance. The organisation highlighted Ramaphosa’s clear commitment to establishing a fully independent Transmission System Operator (TSO) with ownership and control of transmission assets, separate from Eskom Holdings. This addressed investor and business concerns over delays in Eskom unbundling. CEO Busisiwe Mavuso noted that the statement provides needed certainty after doubts about reform commitment. BLSA stressed the need to accelerate broader reforms for sustained progress.
Hayley Parry – Money Coach and Facilitator at 1Life’s Truth About Money:
Parry observed that the President’s energetic and optimistic delivery contrasted with household realities, where macroeconomic gains like easing interest rates, moderating inflation, and JSE resilience do not translate to relief. Many consumers face rising costs from self-provisioning essential services (electricity, security, healthcare, and now water) due to failing delivery, eroding financial resilience and forcing budget shifts toward emergency funds and parallel systems. She criticised bracket creep from inadequate tax bracket adjustments, static Tax-Free Savings Account limits (R36,000 annual, R500,000 lifetime), and unchanged retirement deduction caps (27.5% up to R350,000). The upcoming Budget is critical for consumer-focused relief through inflation-aligned tax brackets, indexed TFSA/retirement limits, and targeted support for self-provisioning households to enable saving, investing, and economic participation.
Tando Ngibe – Senior Manager, Budget Insurance:
Ngibe emphasised that households prioritise monthly financial survival over GDP statistics, despite positive signs like lower inflation and easing interest rates. High food, transport, and municipal costs remain burdensome. He praised the focus on reliable, affordable commuter rail and affordable housing to cut transport expenses, freeing funds for essentials like groceries and insurance. Water infrastructure failures and local government inefficiencies force households to absorb extra costs (bottled water, tanks, repairs), so greater municipal accountability would directly ease pressures. Employment is the core driver of financial wellbeing, reducing debt reliance and enabling budgeting, saving, and planning. He welcomed easier credit access via amended regulations but cautioned that it requires responsible borrowing and financial education to avoid over-indebtedness. Progress will be judged by safer communities, reliable services, predictable expenses, and stable employment.
Frank Blackmore – Lead Economist at KPMG South Africa:
Blackmore gave the SONA a positive assessment for narrowing the gap between high-level themes and lived realities. He highlighted detailed commitments on crime (syndicates, gangs, illegal mining, corruption), including more police, institutional strengthening (SIU, NPA, Hawks), whistleblower reforms, and root-cause interventions. On water, he noted increased funding, a National Water Agency, and a National Water Crisis Committee, alongside local government reforms (updated White Paper, differentiated powers, skills/accountability improvements). Economic growth featured prominently through infrastructure, investment, innovative funding, and sectoral focus (agriculture, mining). However, he criticised the heavy reliance on new committees, agencies, and oversight layers for service failures, arguing this expands government size/cost while diluting accountability. A better approach would streamline existing departments, clarify responsibilities, and involve experts directly rather than creating additional structures, ensuring frontline delivery and clear accountability.