South African economy faces major challenges, but turnaround not difficult task, says Kganyago

The South African economy faces major challenges and economic growth was weak as unemployment remained high despite terms of trade being favourable and global recovery, however, it should not be a difficult task to turn things around, South African Reserve Bank (SARB) Governor Lesetja Kganyago said on Thursday. “We have good ideas for addressing these problems, but regulatory and policy uncertainty as well as corruption and alack of direction in some areas have all sapped consumer and investor confidence and weakened private-sector investment,” Kganyago said speaking at the fifth SA Tomorrow Investor Conference in New York, America.