South Africa's GDP decreased by a record 51.0 per cent in the second quarter, due to the impact of COVID-19 lock-down restrictions. The largest negative contributors to growth in GDP were the manufacturing, trade and transport industries which saw muted economic activity amid lockdown. Old Mutual Chief Economist, Johann Els joins CNBC Africa for more.
JOHANNESBURG (Reuters) - South Africa’s manufacturing output fell 16.3% year on year in June after contracting by 32.4% in May, the statistics agency said on Tuesday. Factory...
JOHANNESBURG (Reuters) - South Africa’s manufacturing output fell 49.4% year on year in April during a nationwide lockdown, after contracting by a revised 5.5% in March, the statistics agency said...
The government can fix the Eskom problems and they don’t need to sell any division of Eskom to operate well, the president needs to restructure the energy facility as his main priority moving forward, to position South Africa as a manufacturing hub for the continent, that wìll prepare for upstream industrial production and reduce unnecessary imports to the continent.
The world of fashion has seen the decline in consumer spending power and the cancellation of fashion shows around the world with brands such as Gucci, Dior and Chanel postponing its fashion collection debut’s as the virus fears have banned the social gatherings of individuals. As the fear starts to settle in South Africa many social gatherings, production creation and manufacturing is also experiencing a slowdown. Renowned South African Fashion Designer Johan-Gert Coetzee joins CNBC Africa for more.
The African Development Bank (AfDB) Group predicted Kenya's 2020 GDP to grow at 6 per cent this year, boosted by favourable weather conditions and big-ticket investments around the Big 4 agenda on health, housing, manufacturing and agriculture. Also, Kenya’s private sector activity fell for the first time in nine months to January, largely due to weak consumer demand, pointing to poor cash flow in the country. Rodney Omukhulu, Assistant Investments Analyst at Cytonn joins CNBC Africa for more.
Just over 2 years ago, when Kenyan President Uhuru Kenyatta began his second term in office, he released his development blueprint for Kenya, known as the Big 4 Agenda. The plan outlines 4 pillars of development: Food security, affordable housing, universal health care and manufacturing – but now with only about two and half more years to go, how much of the blueprint has the Government achieved and what comes next? Journalist, Joseph Bonyo joins CNBC Africa for more.
Economic contractions were bound to happen as power supply instability threatens activity. Q3 employment figures show that 28,000 jobs were shed. Contractions in the manufacturing, construction and community services industries were the hardest hit. CNBC Africa’s Karabo Letlhatlha spoke with Numsa's Deputy General Secretary Karl Cloete.