SA’s economy will struggle to grow in line with the rest of sub-Saharan Africa as business confidence remains in the doldrums, said the World Bank. According to the Africa Pulse report produced by the Bank, the low business confidence holding back investment has largely been driven by the slow pace of structural reforms. “SA came out of recession in the third quarter of 2018 but growth has been subdued and really disappointing as policy uncertainty continues to hold investment back,” World Bank chief economist for Africa Albert Zeufack said in a conference call on Monday. The Bank left SA’s growth figures unchanged from its World Economic Outlook in October 2018 when it lowered forecasts from 1.8% to 1.3% in 2019 and from 1.9% to 1.7% in 2020. Growth for 2021 is estimated at 1.8%. “This gradual pickup in growth reflects expectations that consumer spending will strengthen, spurred by low inflation, and long-delayed structural reforms will help revive investment, as business confide...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now