A file picture shows the South African twenty rand note.
A file picture shows the South African twenty rand note. REUTERS

Growth in credit demand by South Africa's private sector slowed to 5.01 percent year-on-year in January, compared with a slightly revised 5.56 percent in December, central bank data showed on Monday.

Growth in the broadly defined M3 measure of money supply accelerated to 8.19 percent year-on-year compared with 6.92 percent in December.

Twelve analysts surveyed by Reuters forecast private sector credit would expand by 5.88 percent year-on-year in January. Growth in M3 was seen at 8.3 percent year-on-year.

South Africa Inflation