South Africa Economic Outlook: Turning short-term crises into opportunities
PwC South Africa Economic Outlook | January 2024
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By PwC
We’re pleased to share our first South Africa Economic Outlook report for 2024.
Alongside country-specific structural challenges – which, in the case of South Africa, includes electricity load-shedding, high levels of unemployment and a scourge of crime – the world is also facing short-term crises in 2024. These challenges are more transient in nature and less enduring than the long-term Megatrends shaping society.
The short-term crises are certainly not the same everywhere. However, they can be grouped into five categories, namely: economics, conflict, resources, health and institutions. Based specifically on these categories, we have identified crises across five areas of South African society, namely:
Macroeconomic volatility
Conflict-hit international supply chains
Access to scarce resources
Access to healthcare
Struggling public institutions
In response to these five challenges, local businesses can have a positive impact on South African society by: 1) preserving and creating financial value to the benefit of many stakeholders; 2) localising supply chains; 3) doing more with available (scarce) resources; 4) supporting access to healthcare for employees; and 5) increasing public-private collaboration.
Key content in this report includes:
Economics: Value preservation and creation can make companies more resilient and competitive during economic downturns.
Conflict: Localisation of sourcing could reduce dependence on supply chains hit by foreign conflicts and domestic inefficiencies.
Resources: A circular economy approach creates benefits for many stakeholders impacted by costly resource scarcity.
Health: Wellness initiatives, support programs and health education can improve employees’ access to healthcare.
Institutions: A public-private collaboration model improves public service delivery through joint funding and operational control.
How PwC assists our clients in responding to opportunities for change by placing purpose at the heart of their risk and overall strategy.
Download publication here
You can explore further insights by visiting the South Africa Economic Outlook webpage. For ease of access, we have also attached a soft copy of the report.
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.