Economy barely grows in first quarter
South Africa's economy stagnated in the first quarter, eking out quarter-on-quarter growth of just 0.1% as contractions in sectors such as mining and manufacturing offset a strong performance by agriculture.
Africa's biggest economy has struggled to build momentum since the 2008-2009 global financial crisis, with annual growth averaging less than 1% over the past decade.
Business and consumer confidence has picked up since the formation of a government of national unity (GNU) last year, but that is yet to translate into higher levels of output.
Tuesday's data was marginally better than expected, as economists polled by Reuters had predicted GDP would be unchanged from the previous quarter in seasonally adjusted terms.
Analysts and the country's top statistics official said the weak growth was worrying.
'Our economy is not growing sufficiently, and at this state, it is easy for it to slide into the negative,' statistician-general Risenga Maluleke told a press conference.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mail & Guardian
an hour ago
- Mail & Guardian
Born Free: Hunger is Political
In this week's episode, Khumo Kumalo and Otsile Nkadimeng sit down with Gauteng MEC Vuyiswa Ramokgopa to unpack the shifting landscape of South African politics. From President Ramaphosa's recent meeting with U.S. President Donald Trump to the realities young people face on the ground, this is a timely and unfiltered conversation. As Youth Month begins, we confront the hard questions: 🔹 Why are so many young South Africans still unemployed? 🔹 Why do barriers to voting persist in a democracy built on freedom? 🔹 How can youth reclaim their agency in a political system that often sidelines them? This episode is more than a political chat—it's a call to action. If you're young, concerned, and ready to shape your future, this one's for you. #BornFree #YouthMonth #SouthAfrica #Politics #Unemployment #GenerationNow #MGPodcasts Khumo Kumalo is the visionary behind Misunderstood and the dynamic co-host of Born Free . Named one of the Mail & Guardian's Top 200 Young South Africans of 2024 , he is a bold voice in the country's evolving political discourse. As the author of Newsletter 94 (formerly Misunderstood), Kumalo delves into South Africa's complex history and shifting political landscape, reflecting on the dreams and realities of a post-apartheid nation. His passion for debate and current affairs was ignited at St John's College , later taking him to Morehouse College in Atlanta, Georgia , where he continued to sharpen his perspective on leadership and social change. Kumalo isn't just asking questions—he's challenging narratives, sparking conversations, and pushing South Africa's youth to rethink what it truly means to be Born Free . Otsile Nkadimeng is a published author, policy writer, and changemaker , balancing his role as a second-year university student with a deep commitment to youth empowerment. Recognized by News24 for his impact and awarded the Young Nelson Mandela Award in 2023 , he is shaping conversations on democracy, governance, and sustainability. As the Executive Director of SoWeVote , a platform he co-founded, Nkadimeng is making it easier for young South Africans to access critical information about politics and democracy. His advocacy extends beyond borders—he serves as a Youth Advisor to the Embassy of Sweden in Pretoria and is a fellow at the International Youth Think Tank , where he contributes to global youth policy discussions. Passionate about sustainability, he has co-founded and led multiple initiatives aimed at environmental and social progress across South Africa. Whether in civic engagement, international diplomacy, or grassroots activism, Nkadimeng is at the forefront of youth-led change, proving that young voices aren't just part of the conversation—they're leading it. Disclaimer: 'Born Free' is an opinion-based podcast and does not represent the views of M&G Media (PTY) LTD, its owners, affiliates, employees, or partners. The opinions expressed by the hosts and guests are their own and do not reflect the editorial stance of the Mail & Guardian.
TimesLIVE
an hour ago
- TimesLIVE
Nato ministers to discuss defence spending hike before key summit
Nato defence ministers gathered in Brussels on Thursday to discuss how to meet US President Donald Trump's demand for significant increases in spending, less than three weeks before a key summit of the alliance in The Hague. Trump has said Nato allies should boost investment in defence to 5% of GDP, up from the target of 2%. Diplomats say the European allies understand that hiking defence expenditure is the price of ensuring a continued US commitment to the continent's security and that keeping America on board means allowing Trump to be able to declare a win on his 5% demand during the summit, scheduled for June 24-25. 'We have to go further and we have to go faster,' Nato secretary-general Mark Rutte told reporters on Wednesday. 'A new defence investment plan will be at the heart of the Nato summit in The Hague.' In a bid to meet Trump's 5% goal, Rutte has proposed alliance members boost defence spending to 3.5% of GDP and commit a further 1.5% to broader security-related spending, Reuters has reported. Details of the new investment plan will probably continue to be negotiated until the eve of the Nato summit.
The Herald
2 hours ago
- The Herald
Innovate Africa: Inside the future – a conversation with Vuyo Mpako from NEXT176
NEXT176 is Old Mutual Group's new growth and innovation arm. While the parent company has been around for 180 years, NEXT176 is focused on what's next, backing bold ideas that can improve people's lives across Africa. Led by MD Vuyo Mpako, the team is working to make a difference in health, education, jobs, financial wellbeing, sustainability and debt management. Their goal is to have an impact on 1-billion lives on the African continent. In our interview, Mpako shares the hard lessons of corporate venturing, how NEXT176 bridges the gap between start-up speed and corporate structure, and why partnering with the likes of SC Ventures makes sense when trying to build financial tools that work for everyone. This is a conversation about real-world innovation, what it takes, what's working and where it's going. TimesLIVE
