'SA's official exit from recession is a good step'

South Africa's economy is out of a technical recession.

Stats SA has announced that the country saw third-quarter GDP expanding by 2.2% quarter on quarter.

COO at Business Leadership SA Busisiwe Mavuso says Stats SA's announcement that South Africa is out of the recession is a very positive step.

READ: SA may be out of recession, but there's a long road ahead to economic recovery

She expresses that it is a positive step especially on the back of the country rallying around the Africa Investment Summit with great hopes from foreign investors and credit rating agencies.

The exit from recession, therefore, allows us to be able to sustain whatever hopes that we have raised in as far as that is concerned.

Busisiwe Mavuso, COO at Business Leadership SA

She says this growth comes at the right time when credit rating agencies such as Moody's are watching the country closely.

She adds that in dealing with the growth trajectory, the country needs to also deal with high levels of unemployment.

Listen below to the full interview:


Recommended

by NEWSROOM AI
Read More
SA may be out of recession, but there's a long road ahead to economic recovery

SA may be out of recession, but there's a long road ahead to economic recovery

Economist Prof Raymond Parsons says SA has to throw its weight behind the economic recovery and ensure that it is sustainable.

Parking fees to be capped at R5 at certain malls

Parking fees to be capped at R5 at certain malls

Redefine Properties is planning to cap the cost of parking in its malls and in some areas they will even offer free parking.

Sandton City is fully let for 1st time since 1973. Recession? What recession?

Sandton City is fully let for 1st time since 1973. Recession? What recession?

Africa's richest square mile's oldest, most opulent shopping centre is booming like never before, says Amelia Beattie.

Sandton City is fully occupied for the first time in 45 years

Sandton City is fully occupied for the first time in 45 years

Despite the recession, Sandton City signs up more luxury brands than any other malls in SA.

Clicks profits surge by 15.1% to R2.04 billion

Clicks profits surge by 15.1% to R2.04 billion

Someone tell Clicks (and its customers) we’re in a recession! Bruce Whitfield interviews David Kneale, CEO at Clicks.

The nation should not expect much from the #MTBPS2018 - economist

The nation should not expect much from the #MTBPS2018 - economist

Political economist Lebohang Pheko says she won't be popping any champagne this afternoon for Finance Minister's budget speech.

Pick n Pay sells most groceries in 5 years

Pick n Pay sells most groceries in 5 years

Recession? What recession? The Money Show’s Bruce Whitfield interviews Pick n Pay CEO, Richard Brasher.

The ‘technical’ recession may soon, technically, be over

The ‘technical’ recession may soon, technically, be over

Ray White (on The Money Show) interviews Peter Attard Montalto, Head of Capital Markets Research at Intellidex.

Capitec Bank profits surge 20% (still adding 109 000 active clients every month)

Capitec Bank profits surge 20% (still adding 109 000 active clients every month)

Recession? What recession? (Your move, Viceroy!) The Money Show’s Bruce Whitfield interviews Capitec Bank CEO Gerrie Fourie.

New visa rules a relief for our economy and for jobs, says WC MEC

New visa rules a relief for our economy and for jobs, says WC MEC

The Western Cape government and SA Tourism have welcomed the amendments to South Africa's visa regulations.

Parktown Boys' High School teachers quizzed over racism allegations

Parktown Boys' High School teachers quizzed over racism allegations

The Gauteng Education Department is investigating allegations of racism and assault at Parktown Boys High.

A new state of the art school is set to open after delays

A new state of the art school is set to open after delays

The Nokuthula Centre and Special School has been lying empty since October. Gauteng MEC Jacob Mamabolo explains what took so long.

Gugs Mhlungu: Our sportswomen are on #CountryDuty

Gugs Mhlungu: Our sportswomen are on #CountryDuty

Gugs Mhlungu suggests the national squad Bafana Bafana may need to reassess after failing to qualify for the 2018 world cup.

Amendment bill to protect consumers from 'predatory' garnishing orders

Amendment bill to protect consumers from 'predatory' garnishing orders

Consumers will have protection against wage deductions after amendments to the Magistrate's Court Act, with a 25% deduction limit.

KZN xenophobic attacks leave 2000 displaced, Satawu Gauteng, Prez back in Parly

KZN xenophobic attacks leave 2000 displaced, Satawu Gauteng, Prez back in Parly

Round of the day's talkers

EFF challenges suspension from National Assembly

EFF challenges suspension from National Assembly

Where you won't miss a thing.

Popular articles
Public Protector: 'Classified' doc at centre of SSA spat obtained anonymously

Public Protector: 'Classified' doc at centre of SSA spat obtained anonymously

The Public Protector laid a criminal complaint against the State Security Minister over the supposedly classified state document.

South Africa can have cheap electricity, forever! – former Eskom engineer

South Africa can have cheap electricity, forever! – former Eskom engineer

The Money Show’s Bruce Whitfield interviews Dr Tobias Bischof-Niemz, CEO at ENERTRAG South Africa.

Meet Sandile Shabalala, CEO of black-owned and controlled TymeBank

Meet Sandile Shabalala, CEO of black-owned and controlled TymeBank

TymeBank has no branches and no monthly fees. Most transactions are free. Bruce Whitfield interviews its CEO.

Buying a used car? New app sends mechanic to inspect it before you decide

Buying a used car? New app sends mechanic to inspect it before you decide

Hanru Reyneke is on a mission to disrupt the used-car industry in South Africa by providing peace of mind to punchdrunk consumers.

What are the rules and regulations when it comes to owning a generator?

What are the rules and regulations when it comes to owning a generator?

A listener on the Afternoon Drive has shared his frustrations with a neighbor's noisy generator and the health risks it posed.

NSFAS to probe claims of unpaid funds causing students to resort to loan sharks

NSFAS to probe claims of unpaid funds causing students to resort to loan sharks

Students claim they have not received their NSFAS meal allowances and are forced to borrow from loan sharks to survive.