Pressure to re-open South Africa’s collapsing economy is becoming irresistible.
Business for South Africa’s granular level research concludes that unless there’s a rapid easing from Level 4, SA’s economy will contract by a staggering 17% this year – a reverse which would take almost a decade to recoup at current growth rates.
That dire result is covered in some detail with B4SA’s Stavros Nicolau in the latest episode of Inside Covid-19. This episode also features a discussion with suddenly re-famous Thys du Toit, long-since retired CEO of Coronation Fund Managers, whose video pleading for reopening has gone viral.
Cyril Ramaphosa’s decision will surely be informed by what’s happening on the ground. If so, it’s no contest. Our “informal sector” correspondent GG Alcock has been piling on evidence showing in many rural areas and townships, social distancing is just not happening. So why add to the pain?
*We’ll be addressing this issue in today’s “Thursday Noontime” webinar on Living with Radical Change. It’s free to all Biznews community members, but you do need to register beforehand. Do so by clicking here.
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