The recently presented 2024 Medium Term Budget Policy Statement (MTBPS) by Finance Minister Enoch Godongwana paints a sobering picture of South Africa’s fiscal outlook.
Chris Hattingh is Executive Director at the Centre For Risk Analysis (CRA). With a special focus on trade, investment, and economic matters, as well as foreign policy, Chris serves on the Executive Board of the Global Trade and Innovation Policy Alliance, sits on the advisory council of the Initiative for African Trade and Prosperity and holds the position of Senior Fellow at African Liberty. Chris holds an MPhil (Business Ethics) degree from Stellenbosch University. In his role at the CRA, Chris leads strategic engagements and briefings to clients across South Africa, as well as globally.
When South Africa assumes the presidency of the G20 on 1 December, it gains a position that will afford the country, and the Government of National Unity (GNU), numerous economic, investment, trade, diplomatic, and strategic opportunities.
The formation of the government of national unity (GNU) has afforded SA a few months of positive market sentiment, a stronger rand and more positive interest in investment opportunities from international investors.
Reform of network industries is required for manufacturers to truly benefit from government support
South Africa’s young, growing population presents a substantive opportunity for the country’s future; a skilled workforce, a growing middle class with aspirations, and an expectation for satisfactory government and private sector services and offerings.
Taking the date on which President Cyril Ramaphosa announced his latest cabinet – 30 June 2024 – 8 October marks 100 days of the Government of National Unity (GNU).
On 31 August Springboks (and a few All Blacks) fans took newly cleaned PRASA trains from Park Station to Ellis Park stadium (now Emirates Airline Park). The preceding Sunday, Minister of Transport Barbara Creecy also took the trip, as part of an initiative to increase awareness of the work being done by PRASA to get its train fleet back up and running. Positive stories of the experience filled social media; the home team rewarded those fans who attended with a 31-27 victory.
Both President Cyril Ramaphosa and Public Works and Infrastructure Minister Dean Macpherson have expressed their desire to ‘turn South Africa into a construction site.’ To unlock the level of GDP growth rate the country needs – between 4% – 6% per annum – one of the economic sectors to get right is that of construction.