South African: The businesses community feels a high expectation for the new government. So far Cyril Ramaphosa presidency inspires a level of confidence among the economic sector. Even the new president inherited a tough economic climate in the country. Ramaphosa manages himself in a certain way to gain confidence from the constituents.
Meanwhile, a new navigator survey from HSBC touched of over 8,500 companies in 34 markets. Revealed some important information about the new business climate on South Africa under Ramaphosa Administration. This survey was conducted between August and September in the entire country.
Eventually, the document transcribes a sentiment an economy about to move in the right direction. This feeling is the same among divers South African business people. Somehow the six months into the presidency of Cyril Ramaphosa is giving them hope. Because of the progressive economic agenda of this new administration.
Regardless of the current domestic economic despair. The HSBC survey shows that 9 out of 10 respondents in South Africa believe the near-term outlook. Favorable for international trade is positive and higher than the 78% of the global average.
The survey also reveals some of 91% South African business people feel confident their company will succeed under this administration. Which is a great mark for the politic economic of the government who create an environment-friendly for trade and businesses?
Expectations of global economic growth and confidence in buyer/supplier relationships. Were most often cited as key factors. Supporting this new optimism era for the South African population. Another important detail revealed by the survey. Is there are top three markets South African targeted to expand their businesses.
Those markets are Botswana, the United States, and Mozambique.
According to the same survey. South African business leaders are not afraid of some negative feedback due to the US-China trade war. They believed their only concern is: They want the Ramaphosa administration. Exercise some influence to keep up a good trade relationship with the Donald Trump administration. This the main economic reason to keep market grow and expand in the future.
For the time being, South African businesses are staying positive. They do not forget they are facing some of the most challenging economic conditions in South Africa. We will see along the years. Whether on not Cyril Ramaphosa presidency will keep up to stay positive and bring real change in the country.
The last thing I will say before ending this article the most move I saw in this positivism economic climate. Actually, South African businesses are prioritizing technologies. Promoting also digitization, artificial intelligence. They are using, and data analytics as a tool to grow and compete on the global market.
Finally, it’s a very good sign. Because of local business leaders and show up some optimism. They will continue to run their business with confidence to boost the economy with the support of the government.