Shock as SA’s first-quarter GDP shrinks by 3.2%

Days after President Cyril Ramaphosa pledged to implement his economic reform plans during his inauguration, the latest economic growth figures underscore the urgency in which he has to fix SA’s broken economy. During the first quarter, the economy recorded the largest contraction since the global financial crisis 10 years ago. It’s the first time the impact of recent rolling blackouts on the economy is laid bare.