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Mavuso reflects on seven-point fall in business confidence from July unrest

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BLSA’s Mavuso has reflected on the first bits of economic data released by the RMB Business Confidence Index, indicating the Q3 fall by seven points in business confidence.

Business Leadership South Africa’s (BLSA) CEO, Busi Mavuso issued an article on Tuesday, 14 September 2021, reflecting on the first bits of economic data revealing the effects of the July unrest. Moreover, it highlights how business confidence fell by seven points to 43 in the third quarter.

Mavuso noted how the economic data reflecting the effects of the four days of the July unrests revealed a slump back into negative territory, falling below 50 points according to the Rand Merchant Bank/BER Business Confidence Index to 43. She also believes that the move back and forth between positive and negative readings in the confidence index had much to do with the slippery slope that the county’s economy has been on for what seems like more than a decade. Mavuso further noted that just as things seem to gain momentum, another hurdle will present itself, disturbing the progress that has been made.

See the post below.

What encouraging economic progress does Mavuso believe SA has achieved?

Mavuso attributed the successful implementation of the vaccination programme as a step towards progress. She also noted encouraging confidence in the reform of the energy sector, as well as the re-launching of the country’s national airline, South African Airways (SAA).

What does Mavuso believe led to the July unrest?

Mavuso identified the factional politics of the governing African National Congress (ANC) party as the contributing factor to the July unrest. She noted that factional battles spilled over into the streets of KwaZulu-Natal (KZN) and Gauteng, leading to severe economic damage of R50 billion.

Where does Mavuso think the SA economy stands now?

Mavuso believes that the South African economy is still on a slippery slope and that South Africa needs to relentlessly pursue necessary reforms and manage the politics of the land better, to positively lift the economy into a more stable place.

Mahlohonolo Lakaje
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