{"id":767384,"date":"2024-04-10T13:53:59","date_gmt":"2024-04-10T11:53:59","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=767384"},"modified":"2024-04-10T13:54:03","modified_gmt":"2024-04-10T11:54:03","slug":"the-struggle-continues-for-south-african-consumers","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/767384\/the-struggle-continues-for-south-african-consumers\/","title":{"rendered":"The struggle continues for South African consumers"},"content":{"rendered":"\n

South Africa’s economy is barely moving, even if economists predict that growth in 2024 will be better than in 2023. <\/p>\n\n\n\n

The BankservAfrica Economic Transactions Index (BETI), which measures the monthly value of interbank electronic transactions, showed a slight sign of recovery in March following a disappointing February. <\/p>\n\n\n\n

\u201cThe BETI reached an index level of 133.4, improving by 1.3% compared to a year earlier and 0.8% up from the previous month,\u201d said Shergeran Naidoo, BankservAfrica\u2019s Head of Stakeholder Engagements. <\/p>\n\n\n\n

The suspension of load shedding near the end of March, which is continuing, has had a positive impact on economic activity in the last week of the month.<\/p>\n\n\n\n

That said, the index was only 0.7% higher than the average measured in the last six months. <\/strong><\/p>\n\n\n\n

Independent economist Elize Kruger said that economic activity has largely moved sideways over the last half-year. <\/strong><\/p>\n\n\n

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Overall, load shedding, logistics challenges and renewed pressure on fuel prices have added to the ‘more of the same’ narrative for the economy. <\/p>\n\n\n\n

The slow growth momentum is having a negative impact on unemployment and the nation’s social-economic challenges. <\/p>\n\n\n\n

Uncertainty and volatility in an important election year have made the situation even more challenging.<\/p>\n\n\n\n

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Zuma cleared to run for parliament in 2024 elections<\/a><\/blockquote>