Inside South Africa the tides are turning, and the world is watching
29 January 2018
Looking back to the past three years, and perhaps beyond, South Africa’s economy has been characterised by strong economic uncertainty, political instability, lack of leadership, deep-seated corruption especially at state-owned enterprises (SOEs), declining growth and rising government debt.
All these issues have contributed immensely to the country's credit-rating downgrades, which have been effected in response thereof. Due to the
credit-rating downgrades, business confidence in South Africa has been severely dented, leading to reduced investment in the economy.
As a consequence, South Africa's economy, was plagued by sluggish growth for the better part of 2017. It only managed returned to positive growth trajectory in April after a six-month recession—thanks to the agricultural sector for its robust and consistently performed throughout the year.