South Africa insolvencies rose to 123 in September 2026, up from 117 in August, according to Statistics South Africa’s September release on the insolvencies of individuals and partnerships. That is a 5% rise on the month, and the first time in five months that the monthly count has not been lower than a year earlier: September 2025 recorded 122. The preliminary release was embargoed until 20 October.
The wider picture is still one of fewer cases. Stats SA says insolvencies fell by 15,7% over the first nine months of 2026, from 1 347 to 1 136 compared with the same period of 2025. The agency uses decimal commas and spaces in its tables, which we have converted to the format used on this site.
The September numbers in context
The monthly rise is small, 123 against 122 a year earlier, a difference of one case, or about 0.8%. The third quarter as a whole totalled 383, down 23.4% from 500 in the third quarter of 2025, as reported by BusinessTech. The quarterly figure is consistent with the monthly counts: 143 in July, 117 in August and 123 in September.
The August number was itself revised. BusinessTech’s coverage of the preliminary August release put it at 114 and the year to date at 1,010. The September release lists August as 117, and Stats SA’s August release put the eight-month total at 1 013, a 17,3% fall from 1 225. Adding September’s 123 gives the nine-month total of 1 136. Preliminary monthly figures can move, so the latest numbers may change again.
For a longer view, BusinessTech’s tables of Stats SA data show 1,883 insolvencies in 2023, 2,105 in 2024 and 1,606 in 2025. Comparing those years with 2026 needs care, for the reason below.
What the insolvency series does and does not measure
Stats SA defines an insolvency as an individual or partnership business that cannot pay its debts and is placed under final sequestration. A partnership counts as one insolvency, regardless of how many partners it has, so the figure does not count the people involved. Companies and close corporations are not in this series. They appear in the separate liquidations release.
Our explainer on the return of insolvency data sets out what the numbers cover. It notes that they count only formal court processes, so they miss informal closures, out-of-court wind-downs and business rescue filings.
Liquidations and the outlook
Liquidations, the winding up of a company or close corporation whose liabilities exceed its assets, are tracked separately. Stats SA recorded 227 in August, down 15.3% from August 2025. Of those, 196 were voluntary and 31 compulsory. The total for January to August was 1,828, against 1,952 a year earlier, a fall of about 6.4%. Financing, insurance, real estate and business services was the hardest-hit sector, with 42 cases, according to BusinessTech’s report on that release. The September liquidations figures are due on 28 October 2026.
Falling counts do not necessarily mean healthier firms. BusinessTech notes that fewer failures could reflect a better business environment or simply fewer businesses left to fail. Credit insurer Coface expects the effect of higher interest rates and price pressures to reach companies with a lag, and says insolvencies can be expected to rise in the coming quarters.
The rate backdrop has tightened. The Reserve Bank raised the repo rate by 25 basis points to 7.25% on 23 September, its second increase of the year, after a hike to 7% in May,EWN reported. We covered the decision in our report on the repo rate hike.
Growth is thin. BusinessTech notes the International Monetary Fund projects 1% growth for South Africa in 2026 and 1.3% in 2027, below the roughly 3% many economists say is needed to make a dent in unemployment. For businesses weighing how to stay solvent in that environment, our guide to growing a business in South Africa covers funding and operations. The next insolvency release, for October, is expected on 17 November.
