00:01
Okay, so you can start from the introduction.
00:04
The south african economy has faced significant challenges that have contributed to its stagnant economic growth over the past decade, and key factors include structural issues, power shortages, and socio -economic challenges exacerbated by the covid -19 pandemic.
00:31
Okay, so we're going to talk about the structural challenges first.
00:35
South africa's economic growth has been hindered by various structural constraints.
00:51
These include insufficient skills, skewed distribution of land and productive assets, weak property rights, low competition, and poor integration in regional and global value chains.
01:07
These issues limit economic efficiency and reduce the country's attractiveness to investors.
01:12
Investors, distribution of land and productive assets, etc.
01:43
Now here you can cite world bank 2024.
01:49
2.
01:53
Electricity supply shortages.
02:05
So one of the most critical and ongoing issues is the electricity supply crisis, primarily due to load shedding initiated by escom.
02:17
This situation has significantly disrupted economic activity and increased operational costs for businesses, which often rely on costly diesel generators, and the cumulative duration of outages has dramatically increased in recent years, which severely impacts industries across the board.
02:41
So, increased operational costs.
02:43
And you can again cite the world bank here, and also socio -economic impact of covid -19.
03:14
So the pandemic further exacerbated existing socio -economic challenges, and the unemployment rate remains high, especially among women and youth, which contributes to one of the highest inequality rates in the world.
03:28
And despite a recovery in jobs post -pandemic, the pace has not kept up with the growing labor force, which results in increased unemployment and poverty levels...