From my experience that is a very watered down "shopping list":
Don't forget the initial setup costs with a pram, kot, bottles, dummies, steamer, humidifier, clothing, blankets, towels...the list is endless. If your medical does not cover everything, their are some serious gynea bills on it's way as well with all the scans and checkups. The birth cost quite a bit as well.
The sums for the basic costs do make sense, but does not allow for all those pediatric visits during the first 6 mnths at usually R650 a visit. If the kid is sick, your rarely get away under a R1000 for doc and medication.
Then also add wet wipes, baby oil, baby powder, baby shampoo and soap and Bio-Oil and Bepanthen ( R185 for 200 ml tube).
This list is also endless.
So budget at least R4000 per month AND budget for an increase in Med Aid. Also bear in mind that UIF does not pay much when wife is on mat. leave.
We planned and saved and still kakked.