Sifiso Skenjana, chief economist of IQ Business to review the year in the economy.
Sifiso Skenjana, chief economist of IQ Business to review the year in the economy. 

In this edition of Business Day Spotlight, we’re looking back at some of the top economics news and events of 2020. 

host Mudiwa Gavaza is joined by Sifiso Skenjana, chief economist of IQ Business, to review the year in the economy. 

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The discussion begins with a look at third quarter GDP figures released by Stats SA this week. 

On a seasonally adjusted and non-annualised basis, economic growth in the third quarter was 13.5% compared to the second quarter’s decline of 16.6%. However, Skenjana says the rebound is off a low base and does not mean SA is out of the woods yet. 

Business Day Spotlight host Mudiwa Gavaza. Picture: DOROTHY KGOSI.
Business Day Spotlight host Mudiwa Gavaza. Picture: DOROTHY KGOSI.

The discussion then moves to reviewing the year, first looking at the response of government to the Covid-19 crisis through the year, followed by how businesses have gone about adapting to the environment. 

Skenjana then reflects on issues that have stood out for him through the year, highlighting the plight of the Eastern Cape economy as well as the spate of delistings on the JSE this year. 

In looking to 2021, Skenjana strikes a sombre tone, saying the year is likely to be hard for the economy as the country fights to make back the losses of the pandemic. That said, Skenjana says there is likely to be good opportunity for growth and wealth creation for those companies and individuals who take time to invest in finding new ways of doing business and ideas to innovate.

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PODCAST: Economic news of the year: How business has adapted to Covid-19 and survived 2020

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