Perhaps your usually sceptical correspondent is still basking in the afterglow of witnessing one the most spine-tingling renditions of Nkosi Sikelel iAfrika at Loftus. Perhaps it’s the hopeful tone of most conversations I am having with company executives in the aftermath of a barely predictable formation of government of national unity (GNU). Or it could be that Friday marked 100 days without load-shedding. It could also be the mini relief rally we’ve seen in SA Inc stocks on the JSE since late May.

In truth, it is probably all of these things that give me pause to reflect on what Ninety One value manager John Biccard once said to me about confidence and conviction. It takes something like 100 data points to change a person’s convictions for better or worse. Turning around the collapsing SA narrative was always going to require sustained evidence of improvement. And while there is some way to go, in electricity at least, many are starting to believe an end to load-shedding i...

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