Five key factors that will affect South Africa’s economy and your wallet this year

London-based consultancy Capital Economics reckons the renewed lockdown measures imposed late in December shut down about 20% of the economy, shaving 0.5% of potential growth off this year. If these get renewed or if more stringent regulations are brought back, the throttling of the economy could herald a Q1 contraction.

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Business rescue initiative helps distressed businesses to restart

South Africa’s fragile economy is already off to a stumbling start in 2021. The economy began 2020 mired in recession and the hard lockdown imposed in late March triggered a contraction of 51% on an annualised basis in the second quarter.