A three‐dimensional velocity field constructed from Argo observations and sea surface heights (called Argo and SSH, hereinafter) is used to estimate meridional overturning volume transport and meridional heat transport (MHT) across 20°S, 25°S, 30°S, and 35°S for the years 2000–2014 in the South Atlantic. Volume transport in the upper branch of Meridional Overturning Circulation (MOC) and MHT from the observations are consistent with the previous observations, but are higher than the estimates derived from three data assimilative ocean models, at some of the latitudes. Both the observations and models show strong correlations between the strength of MOC and MHT at all the latitudes. The corresponding change in MHT for 1 Sv change of MOC strength, in the observations, increases from 0.046 PW in 25°S, 30°S, and 35°S to 0.056 PW across 20°S. A comparison of model‐based transports at 35°S at the boundaries and in the interior with those from Argo and SSH shows significant differences between them with respect to the contributions in the three segments of the section. In addition, the contributions also vary greatly between the different models. An analysis of the seasonality of MOC in the models and in the observations reveals that MOC anomalies in the models mostly show strong annual cycles at all the latitudes, whereas those derived from Argo and SSH exhibit annual cycles at three latitudes (35°S, 30°S, and to a lesser extent at 25°S) and a semiannual cycle at 20°S.

The first in situ continuous full‐water‐column observations of the eastern boundary currents (EBCs) at 34.5°S in the South Atlantic are obtained using 23 months of data from a line of Current and Pressure recording Inverted Echo Sounders (CPIES) spanning the Cape Basin. The CPIES are used to evaluate the mean structure of the EBC, the associated water masses, and the volume transport variability. The estimated northward time‐mean Benguela Current absolute geostrophic transport is 24 Sv, with a temporal standard deviation of 17 Sv. Beneath this current the time‐mean transport is southward, indicating the presence of a deep‐EBC (DEBC), with a time‐mean transport of 12 Sv, and a standard deviation of 17 Sv. Offshore of these currents, the shallow and deep flows are more variable with weak time means, likely influenced by Agulhas Rings transiting through the region. Hydrographic data collected along the CPIES line demonstrate that the DEBC is carrying recently ventilated North Atlantic Deep Water, as it flows along the continental slope. This is consistent with a previously hypothesized interior pathway bringing recently ventilated North Atlantic Deep Water from the Deep Western Boundary Current across the Atlantic to the Cape Basin. The observations further indicate that much of the DEBC must recirculate within the basin. Spectral analyses of the shallow and deep EBC transport time series demonstrate that the strongest variability occurs on timescales ranging from 30 to 90 days, associated with the propagation of Agulhas Rings.