Business expert: SA's economy can still bounce back

Business expert: SA's economy can still bounce back

A business expert says the changing economic environment as a result of COVID-19 - has presented government with opportunities to drive growth.

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Victor Kgomoeswana has been reflecting on the fact that our economy contracted by 51% in the second quarter of the year. 

This was due to the COVID-19 outbreak, which brought economic activity to a halt. 

READ: It could take SA up to six years to see growth in GDP: Economist

With the weight of business recovery on his shoulders, President Cyril Ramaphosa says the focus needs to shift to rebuilding the country. 

Kgomoeswana says chances of another pandemic in the future, means investments in expanding digital access and manufacturing should be prioritised. 

READ: Zondo commission hears how Zuma meddled in Eskom's affairs

He says opening up travel will also spill over into other sectors. 

"Think about how much we are importing: whether its thermometers or the dispensers of the sanitisers that we are getting or masks or gloves. These are things that we are going to be using from now on.  

"I heard WHO yesterday saying we should be prepared for the next pandemic. It's a fair warning they are issuing. 

"That's an opportunity there because if you can just make sure that you don't import anything that you didn't make locally. you will be a lot far ahead."

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