Economy would’ve hit 10% growth’ in 2022 but for Eskom and Transnet

The SA economy should have grown by nearly 10% in 2022, but instead scraped by at 2% growth for the year. Moneyweb SAEconomy CiaranRyan14

The SA economy should have grown by nearly 10% in 2022, but instead scraped by at 2% growth for the year. That’s the view of Stellenbosch University logistics professor Jan Havenga. It is widely assumed that load shedding is costing the economy roughly R900 million a day, but that may be understating it.

Compounding the pain was the 11-day strike at the country’s ports in late 2022, which left goods worth R65.3 billion sitting in warehouses or quayside instead of on ships. The South African Association of Freight Forwarders reckons most of these potential exports have been lost forever, but adds that the cost pales alongside the R1.5 billion additional wages won by Transnet workers.

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