CEO Column: SA's winning streak built on hard work

Seldom has South Africa approached the end of the year on such a winning note.

In business, geopolitics, and macroeconomics, for once the metrics are all moving in the right direction.

Even on the sports field, although this is not uncommon.

We are less accustomed to a swathe of positive economic indicators that see us cruising towards the year-end, rather than crawling, or staggering as has been the case in the recent past.

Here are some highlights from just the past few weeks:  

-- the South African Reserve Bank’s Monetary Policy Committee (MPC) reduced the policy rate by 25 basis points, to 6.75%, a move aimed at ‘boosting potential growth, achieve a sustainable debt path, and shift to a low-inflation regime’.  

-- South Africa exited the FATF Grey list, signalling a significant improvement in efforts to combat money laundering and terrorism financing systems  

-- S&P Global upgraded South Africa’s credit rating for the first time in over twenty years

-- Unemployment dropped from 33,2% to 31,9% in the third quarter, according to StatsSA labour force survey

-- President Cyril Ramaphosa dropped the gavel on a successful G20 leaders summit in Johannesburg, simultaneously ending SA’s year-long G20 Presidency. It was the first African-hosted G20 summit

-- South Africa ends the year as both the world rugby, junior rugby and Test cricket champions, and we’re on our way to the next Soccer World Cup

The Cape Chamber is also riding a tailwind of success as we near the end of a year marked by pleasing progress. Our Strategic Dialogue Networks, aimed at removing impediments to growth and unlocking business opportunities in multiple sectors, are gaining traction. 

Through these SDNs the potential for positive change is enormous; we tackle specific challenges by getting affected stakeholders to pull in the same direction – towards a growth economy.

In business as in sport, building solid networks based on fit-for-purpose expertise, is a winning formula that unlocks positive change.  We can achieve so much more. 

John Lawson
CEO of the Cape Chamber of Commerce and Industry