PwC South Africa Economic Outlook | October 2024
Global financial markets and local business surveys show improved sentiment towards South Africa’s economy.
By PwC
We’re pleased to share our tenth South Africa Economic Outlook report for 2024. This edition looks at several perspectives on the current state and near-term outlook for the South African economy, its operating environment, and industry-level prospects.
Global financial markets and local business surveys show improved sentiment towards South Africa’s economy since the formation of the 10-party Government of National Unity (GNU). Business leaders and financial market investors have welcomed what this diverse body of voices and range of approaches to solving our societal challenges could mean for the economy.
In support of improving economic conditions, and on the back of recent successes in addressing the country’s energy and logistics challenges, the private business sector has recommitted to supporting the government in accelerating important economic reforms. If implemented immediately, these reforms could significantly increase economic growth in 2025 and bring down the country’s unemployment rate.
With this in mind, our latest economic outlook document also includes comments from industry leaders at PwC South Africa about the short-term outlook for their industries. This includes perspectives on the mining, manufacturing, construction, retail, transport and real estate sectors.
Key content in this report includes:
The good news story: A more favourable perspective about post-election Mzansi
Industry-level prospects: Our industry leaders reflect on the near-term outlook for their sectors’ operating conditions
Righting the ship: What the government and private business are doing to reach 3.3% economic growth
Investment decisions now: Highlighting mergers and acquisitions (M&A) considerations in mining, insurance and business services
How we can help: Economic perspectives, industry-level insights and M&A services
You can explore further insights by visiting the South Africa Economic Outlook webpage.
If you have any questions or would like to discuss any of the topics explored in the report, please don’t hesitate to reach out to us.
Contact us
Lullu Krugel
Partner and Chief Economist
PwC South Africa
+27 (0) 82 708 2330
Christie Viljoen
Senior Manager and Lead Economist: Macro Analysis
+27 (0) 82 472 8621