South Africa’s long walk to recovery

Published 08 February 2022

While 2021 saw some pick-up in South Africa’s cement market, analysts do not expect a full recovery before mid-2024. By Industry Insight, South Africa.

As the COVID-19 mutation Omicron sweeps through the country, South African cement producers

see market recovery postponed (Photo credit: AfriSam)

The South African economy remains in crisis. Although there was a recovery in local production and consumption in 2021, record lows due to the COVID-19 pandemic and a lockdown-ravaged 2020 mean that economic activity is nowhere near pre-pandemic levels. The economy contracted by 6.4 per cent in 2020 and is only expected to recover by between 4-5 per cent in 2021. Many economists would agree that the country is only expected to return to pre-COVID levels by mid-2024, with serious social consequences in the short-term. The direst structural constraint remains unemployment at more than 46 per cent.

To continue reading this story and get access to all News, Articles and Video sections of the website, please Register for a subscription to International Cement Review or Login