A 1940 South African fleet

What navy would an independent South Africa need and realistically fund in 1940?

Mining wealth could support a respectable fleet, but political willingness would probably deliver mostly sloops even though cruisers and some capital-ship-scale deterrent would better match the country's needs.

South Africa's mining economy could support more naval power than a minimal patrol force. The country would need cruisers and sloops and might also want a battleship-scale deterrent comparable to South American regional fleets. The government would probably not pay for the full requirement. The likely result is a modest sloop force below the navy the geography and economy could sustain.