Momentum Investments New Report: SA at 63 Million

A Demographic Overview_2025 Mid-year Population Estimates

attached the latest report from Momentum Investments, titled "SA at 63 million: A demographic overview (2025 mid-year population estimates)." This report provides a comprehensive analysis of South Africa’s population trends, drawing primarily on data from Statistics South Africa. 

The study estimates South Africa's population at 63.1 million in 2025.

Key findings include:

• Women slightly outnumber men, which is consistent with past trends.
• The population remains predominantly Black African, making up 82% of the total.
• While the population is still youth-heavy (42% are under 25), there are early signs of a demographic transition.
• Gauteng (26.0%) and KwaZulu-Natal (19.0%) remain the most populous provinces.
• Over eight million people are living with HIV, though HIV-related deaths have declined.
• Life expectancy has recovered from the drop caused by the COVID-19 pandemic.

2025 Mid-year population estimates

The report was authored by Momentum's Chief Economist, Sanisha Packirisamy, and Economist, Tshiamo Masike.