Strategy and investment consulting firm Singular Group says the Covid-19 pandemic has severely impacted South Africa’s economy, to such an extent that business confidence is at an all-time low, 22% lower than during the 2008 global financial crisis and currently ranking in the 8% range. During the first quarter of this year, unemployment was already the highest it has been in a decade at about 30%, and has rocketed to near 40% when the Covid-19 lockdown was enforced in the country, according to the firm.
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