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Business Daily

Keeping the lights on in South Africa

Business Daily

BBC

News, Business

4.4796 Ratings

🗓️ 11 December 2024

⏱️ 21 minutes

🧾️ Download transcript

Summary

In July, South Africa unveiled a new coalition government, after the ruling African National Congress (ANC) party lost its majority in May's elections.

The coalition was welcomed by the business community who said it would ensure economic stability.

So what's happened since? And will any optimism last?

We hear about a reduction in power cuts - also known as loadshedding - and positivity on the stock market, as well as young people who are looking forward to the future.

Produced and presented by Rob Young

(Image: A worker connects a diesel generator to supply power to a sports complex during loadshedding in Frankfort, South Africa, in June 2023)

Transcript

Click on a timestamp to play from that location

0:00.0

Hello, I'm Rob Young. Welcome to Business Daily from the BBC.

0:08.5

Coming up, the deep economic problems in South Africa.

0:12.5

The economy is in a state of emergency because we don't have the transport and logistics capacity we need,

0:18.9

just to facilitate trade within and between South Africa and

0:22.4

these trading partners. But there is now increased business confidence since the formation of a new

0:28.2

government. Corporates are in a much more positive, much more bullish mindset, and they've been

0:34.8

very well received by foreign investors.

0:38.4

Is there finally justified optimism in South Africa's lackluster economy?

0:43.8

That's all on Business Daily from the BBC.

0:50.3

This is Amapiano, the musical genre that came out of South Africa's townships and has recently become a global phenomenon.

1:06.3

Amur Piano's upbeat, optimistic sound, is perhaps out of step with the way many South Africans

1:12.5

feel about daily life and their country's economy. South Africa has one of the highest

1:17.5

unemployment rates in the world. One in three adults are out of work and looking for a job.

1:24.3

And unemployment is significantly higher than it was a decade ago.

1:29.5

Here are two women in the southern city of Cape Town who would dearly like a job and come to hire

1:34.8

and first, Esmeralda.

1:36.9

I haven't been working for a while, and it's almost going six months and I've been home.

1:41.4

It's difficult if you are not working because things is not going

1:44.8

easy for you. You are struggling here indeed. I've been around to different places giving out my

1:50.8

CVs and that, but there was no feedback on that. And then I just gave up like a month ago saying

1:56.7

that I'm not going to go out because there's no income, but I'm spending on going out to places to give my CV in.

2:04.6

I'm hopeful of finding a job.

...

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