<\/p>\n
Investec Group chief executive officer Fani Titi expects South Africa\u2019s economic growth rate to almost triple by 2030 as bottlenecks in electricity, logistics and other infrastructure ease.<\/p>\n
Growth is expected to lift toward 3% by 2030 as structural constraints are gradually reduced, he said in the company\u2019s annual integrated report published Tuesday. The outlook is more bullish than the International Monetary Fund\u2019s 1.8% forecast.<\/p>\n
Read:
Investors reward reform as SA\u2019s outlook improves
Private investment helps shape SA\u2019s path to economic renewal<\/p>\n
Africa\u2019s largest economy expanded 1.1% last year and has averaged less than 1% growth annually for more than a decade.<\/p>\n
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Titi sees Operation Vulindlela, set up by President Cyril Ramaphosa in 2020 to fast-track reforms, as a major catalyst for faster growth.<\/p>\n
The unit, which initially focused on energy and logistics, has since expanded to target other barriers to growth, including water infrastructure, municipal performance, spatial inequality, digital transformation and visa reforms.<\/p>\n
\u201cImprovements across these areas should support the uplift in growth,\u201d Titi said.<\/p>\n
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The reform drive has improved investor sentiment and contributed to sovereign-rating upgrades from Fitch Ratings and S&P Global Ratings for the first time in decades. The country has also exited the Financial Action Task Force\u2019s dirty-money list, while posting a third consecutive primary budget surplus, where revenue exceeds non-interest expenditure.<\/p>\n
Lower interest rates could also boost the economy, Titi said.<\/p>\n
Annual inflation is expected to return to the central bank\u2019s 3% target by April, aided by favourable base effects, he said. That\u2019s after it surged to 4.5% last month because of a spike in energy costs linked to the Iran war. \u201cThis should allow the interest rate cutting cycle to resume, supporting investor sentiment, economic activity and the lending environment,\u201d Titi said.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n<\/p><\/div>\n
#Investecs #Titi #sees #growth #rate #tripling<\/p>\n","protected":false},"excerpt":{"rendered":"
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