JOHANNESBURG, 17 SEPTEMBER 2020 – The decision to move the country to level 1 of the national lockdown put in place to fight the spread of COVID-19 will give struggling businesses in the Metals and Engineering (M&E) industry much-needed momentum in their recovery efforts, Steel and Engineering Industries Federation of Southern Africa (SEIFSA) Chief Economist Dr Michael Ade said today.
After nearly six months of lockdown restrictions that included, among other stringent measures, the closure of the country’s borders, businesses will finally be able to ramp up their importing or exporting activities. However, as President Cyril Ramaphosa conceded during his address to the nation last night, global demand for goods will remain constrained in the medium term, Dr Ade said.