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Assessing and promoting civil and minority rights in South Africa.

[Source: Daily Maverick by Tim Cohen.]

‘Ramaphoria’ may be present in politics, but with South Africa’s business confidence falling on Wednesday to rock-bottom lows, it’s becoming clear that the idea is not gripping the economy, posing an increasingly pressing question: What will happen if South Africa is ‘junked’ at the end of March?

The ANC’s support in the election campaign appears to be holding, and according to opinion polls, President Cyril Ramaphosa’s popularity is soaring. The leadership of a business-adept president along with investment and jobs summits was supposed to have a catalytic effect of the economy.

Yet the economy is proving to be a stubborn beast, and that was graphically demonstrated on Wednesday when business confidence fell to the lowest level in almost two years in the first quarter, Rand Merchant Bank and Stellenbosch’s Bureau for Economic Research announced. Extraordinarily, more than two-thirds of respondents were dissatisfied with present conditions.

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South Africa at a Glance
58 780 000 (mid 2019 estimate)
4.3% y/y in August 2019 (CPI) & +4.5 y/y in August 2019 (PPI)
3.1% q/q (2nd quarter of 2019)
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