The South African business environment and post-Covid economic performance

SOUTH AFRICA - Report 17 May 2021 by Iraj Abedian

​The overall business environment in South Africa has been challenging, especially since the great recession, with factors such as policy uncertainty and electricity supply shortages resulting in low business confidence. Against this backdrop, the performance of the country’s private enterprises deteriorated noticeably in 2020 as the Covid-19-induced economic crisis took its toll. The total turnover of industries covered by Statistics South Africa’s (Stats SA) quarterly financial statistics survey declined markedly during H1 2020, with growth in turnover registering -4.8% and -16.2% in the first and second quarter of 2020, respectively. Nonetheless, company turnover recovered during H2 2020, rising from the very low base of Q2 2020 to record a growth rate of 24.8% in the third quarter on the back of increased economic activity as lockdown restrictions were eased, and 8.4% in the fourth quarter of 2020. ​

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