Earlier this week, President Cyril Ramaphosa announced that SA will be loosening lockdown restrictions further, moving to level 1 from midnight on Sunday September 20, as the country tries to claw back to the losses brought on by Covid-19.
Davies says this is a positive step for the country, particularly businesses, which will mostly be able to operate as normal now. However, some of the remaining safety and health risks, together with public health concerns, may affect when operations will really be able to go back to pre-coronavirus levels. Davies details some of the concerns that businesses still have based on interactions with their clients.
In addition to news about moving to level 1, this week Stats SA reported that retail sales contracted 9% year on year in July, while the SA Reserve Bank chose to hold interest rates steady, signalling that cuts to the cost of borrowing have come to an end. The conversation also touches on the rise and fall of globalisation, SA’s place in the global economy, the role of policy in enabling growth, how other countries are likely to fare, and an outlook for SA.
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