The South African business environment in 2023

SOUTH AFRICA - Report 23 May 2023 by Iraj Abedian

Following the post Covid-19 economic recovery, the South African economy and its corporations are facing a slew of challenges, both new and long-standing—with policy uncertainty and electricity supply shortages being the most prominent of the latter. These have led to low business confidence, with the electricity supply constraints particularly having a significant impact on businesses across all sectors. Against this backdrop, the performance of the country’s private enterprises deteriorated somewhat in 2022 relative to the preceding year, and this is clearly visible in overall company turnover.

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