Author: Waldo Marcus

All indications are that South Africa’s economy is on a more confident trajectory than it was before the national elections in May. While high inflation and interest rates have weighed on consumer confidence in the past few years, the successful formation of the government of national unity, the absence of load shedding, a stronger rand and lower inflation have combined to boost consumer confidence. The latest FNB/BER Consumer Confidence Index achieved its highest reading in the third quarter since 2019. In its latest World Economic Outlook, the IMF upgraded its growth forecasts for South Africa to 1.1% for 2024 and…