Sagging commodity prices will put the brakes on SA's economic recovery

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South Africa Headlines News

Reduced consumer demand and plunging commodity prices caused by the coronavirus pandemic spell a long road to recovery for SA’s economy.

12 August 2020 - 17:42

SA’s economy had been expected to grow at just 0.9% before the pandemic hit. Now, falling US consumer demand would likely see reduced working hours in Asia, which in turn would cause commodity prices to sag. To compete, SA would need to become the main transshipment for the Southern African Development Community region, said Derby.The corridor links SA ports to Botswana, Zimbabwe, Zambia and Democratic Republic of the Congo .

One of the utility’s greatest challenges during the pandemic has been protecting workers at the country’s ports, which remained open even as the pandemic surged through SA.Transnet had coped with infections among port workers by moving teams between different harbours which had allowed operations to continue efficiently.

 

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