Pay is rising on paper, but South Africans are getting poorer

South Africans may be earning slightly more, but rising costs are eroding those gains, leaving households worse off in real terms.

The average net salary edged up to R21,508 in March 2026, a marginal 0.1% increase month-on-month and 2.3% higher than a year ago. However, once inflation is taken into account, net salaries declined by about 1% in real terms over the first quarter of the year, according to the PayInc Net Salary Index.

The PayInc Net Salary Index tracks the average nominal net salaries of about 2.1 million South African earners. Remaining above year-ago levels, the data points to a stabilisation in net salaries over the first quarter of 2026.

Full story at IOL

By Nicola Mawson

NPA sustains growth trajectory in Q1, ‎records 46.75m GRT as cargo throughput hits 32.38m tons

‎– Larger vessels drive 19.5% surge as vehicle traffic jumps 67%

Nigeria’s maritime sector recorded strong operational growth in the first quarter of 2026, with Gross Registered Tonnage (GRT) for ocean-going vessels rising by 19.5 per cent to 46.75 million, underscoring the increasing dominance of larger-capacity ships across the nation’s ports amid ongoing reforms targeted at positioning the country as a regional trade hub under the African Continental Free Trade Area (AfCFTA).

‎According to the Q1 2026 Operational Performance Review released by the Nigerian Ports Authority (NPA), the rise in vessel tonnage signals improved cargo-carrying efficiency and growing confidence among international shipping lines in Nigerian ports.

‎The report noted that the development reflects a strategic shift toward larger and more efficient vessels, driven partly by the operational impact of the Lekki Deep Sea Port and expanding trade demand.

By News Desk

Full story at Daily Nigerian

Elon Musk says saving for retirement 'won't matter.' I'm not banking on it.

Elon Musk attends the U.S.-Saudi Investment Forum
in Washington, D.C., U.S., November 19, 2025.
REUTERS/Evelyn Hockstein · Reuters / REUTERS

There are times when you listen to something and think, “Huh?”

“Don’t worry about squirreling money away for retirement in 10 or 20 years,” Elon Musk, the world’s wealthiest man, recently said on the “Moonshots with Peter Diamandis” podcast. “It won’t matter.”

The Tesla and SpaceX CEO was adamant that people like you and me shouldn’t be too concerned about socking away savings for after those paychecks grind to a halt.

By Kerry Hannon

Full story at Yahoo News.

Pound ticks higher as UK GDP growth confirmed as nearly stagnant in Q4

The pound made small advances on the dollar (GBPUSD=X) and euro (GBPEUR=X) on Tuesday morning amid signs of stagnant growth at the end of 2025 and as traders continue to watch the situation in the Middle East.

Sterling recouped some of the losses from Monday’s trade as the Office for National Statistics (ONS) confirmed an earlier estimate that growth stood at 0.1% in the fourth quarter compared with Q3.

Growth was caused by an increase of 1.2% in production, while the construction sector decreased by 2% and the services sector showed no growth, the ONS said.

By Lucy Harley-McKeown

Full story at Yahoo News

Is the rand on the brink of breaching R17?

Having dropped as low as R16.90 in early morning trade, the rand had recovered somewhat by mid-morning but was still substantially lower than before the war in the Middle East.

Trading Economics noted that the currency had hit its lowest level since 7 April against the dollar as traders sought refuge in the greenback amid ongoing Middle East uncertainty and rising oil prices.

“The rand has taken the brunt of the sell-off in riskier assets, falling to R16.90 in the Far East this morning,” said TreasuryONE currency strategist Andre Cilliers. By mid-morning, the currency was just above R16.80.

By Nicola Mawson

Full story at IOL

N1m wage useless if naira remains weak — Ajaero

The Nigeria Labour Congress has said a monthly salary of N1m is worthless to workers without a stable naira and improved economic conditions.

The NLC President, Mr Joe Ajaero, said this in an interview with the News Agency of Nigeria on Tuesday in Abuja.

He said the organised labour was more concerned about the value of the naira than nominal wage increases, stressing that rising inflation had continued to erode workers’ purchasing power.

According to him, the steady increase in the cost of living has made it difficult for workers to afford necessities, including food, transportation, and housing.

By Agency Report

Full story at Punch NG

US-Iran war: NNPC hikes oil prices by $7/barrel

The Nigerian National Petroleum Company Limited has raised the official selling prices of all 37 Nigerian crude grades for May-loading cargoes, according to a report by Oilprice.com.

The report stated that Nigeria is reaping the benefits of the US-Iran war, as the NNPC increased the price of its flagship grade, Bonny Light, by $6.13 per barrel for May compared to April.

Similarly, Forcados was also raised by $7.01 per barrel. This development may indicate that the Dangote Petroleum Refinery could pay more for crude, a move that may ultimately push up fuel prices.

By Dare Olawin

Full story at Punch NG