Ratings agency S&P forecasts strong growth in South Africa’s private sector credit in 2025, driven by substantial investments in infrastructure, including rail, water, ports, and energy. These developments, supported by planned economic reforms under the government of national unity, aim to address critical infrastructure deficits while creating new lending opportunities for banks. The anticipated rollout of 22,500 MW in private energy generation projects, valued at nearly R400 billion, combined with lower interest rates, is expected to boost credit demand. Progress in tackling energy constraints and increasing private investment is also projected to support economic growth. A significant step in these reforms is the approval of the Transnet Network Statement, enabling third-party access to South Africa’s rail network, which has been welcomed by the business community and is seen as pivotal in revitalizing the country’s infrastructure.