It says much about the situation in which the world finds itself that the reaction to confirmation that SA is in the middle of the longest recession in more than a decade was that it could have been worse. The bad news is that it will get a lot worse.

Depending on who is asked, the road to recovery is going to be a long one. Absa CEO Daniel Mminele told Business Day on Wednesday he was in the camp that’s looking at a time horizon of about three to five years. And that’s to get to where SA was before the Covid-19 outbreak, which could hardly be described as a boom. ..

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