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Aluma Capital (Pty) Ltd is a registered Financial Services Provider (FSP 46449) in terms of The Financial Advisory and Intermediary Services Act (37 of 2002)
August 30, 2024
August 30, 2024

Economic Growth: What can we expect?

The South African economy has faced significant challenges over the past few years, hindering substantial growth. Key issues include electricity supply constraints, high interest rates, reduced demand, escalating inflation, and policy uncertainty from the government. In the first quarter of 2024, the economy recorded a contraction of 0.1%, with only the agricultural sector showing notable growth at 13.5%; most other sectors either contracted or experienced minimal growth.

Looking ahead, there is hope for improved performance in the second quarter. The easing of electricity supply issues, along with a cautious increase in overall confidence within the economy, may benefit growth. This improved stability could positively impact the manufacturing and mining sectors, potentially leading to favorable growth in the second quarter of 2024.


Frederick Mitchell

Frederick Mitchell is an economist with 16 years of experience, specializing in the intersection of politics, economics, and finance on both domestic and international levels.

His extensive background spans the private sector, where he worked in equity and investment, as well as the public sector, where he served as a senior economist at SARS.

As part of the Aluma team, Frederick leverages his expertise to identify sectors with growth potential and assess those with higher risk, providing valuable insights and strategic advice.


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