Monique Vanek

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South Africa needs to stop finding excuses for its underperforming economy and examine the root causes, a local commerce group said.

‘It is becoming increasingly clear that South Africa is struggling to bed down its recovery program,' the South African Chamber of Commerce and Industry said.

South African Reserve Bank Governor Lesetja Kganyago said policymakers were proceeding with care on adjusting interest rates, to avoid having any future regrets.

‘In an environment of uncertainty it is very important for the central bank to move with caution and not add to the noise that you have in the data,' Kganyago said.

South African retail sales unexpectedly galloped to their highest level in more than two-years in October and are excepted to continue to advance, boding well for the economy.

Expected to strengthen further in 2025 – ‘but improvements will be gradual’.

South Africa’s president said he will soon set up a panel that will provide advice on a national dialogue that will be held next year on the country’s future development path.

South Africa's economic growth has averaged less than 1% in the past decade contributing to an unemployment rate of 32.1% and inequality.