South Africa Bouncing Back: Private Sector Has Seen an “Uptick” in Growth

By Fidel Amakye Owusu

1. South Africa’s private sector has seen an “uptick” in growth in the last month. This has followed similar growth in August.

2. With recent “contraction” and economic challenges, the current performance together with slowing inflationary rates is good for Africa’s most industrialized nation.

3. Already the IMF has projected that South Africa will lead the continent in terms of Gross Domestic Product (GDP) in 2024 and likely remain so until 2027. This means it is taking the position from Egypt (the leader at the end of 2023).

4. With my position that the largest economies of Africa must remain strong to create the necessary vortex for the rest of the continent, this development is a positive sign for Africa.

5. Has the outcome of the last general election and a change in the political dynamics contributed to the “resuscitation” of the South African economy?

6. Is the new positive likely to continue in the medium to long term as projected or it is going to be transient?

7. What effect does this have on the rest of Southern Africa and the continent as a whole?

#africa hashtag#economy Riley Risk Inc. unival group GmbH

By Fidel Amakye Owusu – International Relations and Security Analyst and Writer

Article Reproduced with Permission from Fidel Amakye Owusu

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