South Africa in Self-Induced Growth Crisis, Says BLSA CEO

Business Leadership South Africa (BLSA) CEO Busi Mavuso says that the country is sitting in a self-induced growth crisis – thanks to the failure of the state, moving from one crisis to the next. Mavuso said that many in the government and elsewhere have given a positive response to South Africa’s latest GDP growth figures – where the country narrowly avoided a technical recession by posting growth of 0.1% in the final quarter of 2023. Overall GDP growth for the year was 0.

6% – something unimaginable in a year hit by the worst levels of load shedding on record amid other crises in logistics and infrastructure. The BLSA lead noted that the main sentiment has been a more optimistic spin that “(GDP growth) could have been negative”. However, Mavuso said that the reality is that it has been negative: South Africa has spent the last decade in decline, with“Inadequate electricity supply and logistical constraints were the key obstacles to growt

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