Key View

• The minor increase to the Single Exit Price (SEP) for 2023 will limit pharmaceutical market growth in South Africa.
• High energy prices and inflation will squeeze drugmakers profits in the short-term.
• We expect pharmaceutical industry bodies to challenge the current SEP increase for 2023.

The minor increase to the Single Exit Price

Key View: At Fitch Solutions, we hold a positive outlook for the prospects of e-grocery over the medium-to-longer term (2023-2030). While H222 and H123, has and will see consumers trade down price-points, on the back of elevated inflation, particularly on food items, demand for convenience offerings such as grocery delivery has moderated. Over

Key View

• South Africa has the most developed personal care market in Sub-Saharan Africa and at Fitch Solutions we hold a positive outlook for the segment over the medium term (2023-2026).
• While 2022 saw a slowdown in consumer spending on personal care items, owing to a strained consumer outlook, over 2023 we will see a strong rebound in the

Key View: We believe that as long as the South African government depends heavily on fuel taxes, and the country's national energy grid remains severely damaged, the local adoption of electric vehicles will be slow and driven by corporates and a small wealthy population. The continued imposition of high import duties on electric vehicles

Key View: At Fitch Solutions, we hold a negative view for the consumer outlook in South Africa over 2023. With real household spending forecasted to decelerate in line with a wider economic slowdown, while elevated levels of both inflation and interest rates will provide a key headwind to our outlook and further dampen consumer purchasing power

Key View

• Impala Platinum to face challenges as PGM market volatility threatens price certainty alongside challenging operational conditions.
• The firm will continue to focus on R5bn capital investment plan to increase production output. The company will also develop renewable energy infrastructure at operational sites to reduce energy security

Key View

• The ratification of the African Medicines Agency (AMA) treaty will advance South Africa’s regulatory system.
• South Africa joining the AMA will increase the wider benefits to drugmakers.
• Sub-Saharan Africa (SSA) will remain a highly challenging region and meaningful benefits are unlikely over the short-to-medium term.

The

Key View

• The risk of rolling power outages, or load shedding, will remain high in South Africa over the short-to-medium term due to the unreliability of existing power capacity and limited scope for sufficient maintenance.
• While many large-scale users will look to reduce their reliance on the state-owned power utility, Eskom, through the

Key View

• At Fitch Solutions, we forecast that South Sudan’s real GDP will expand by a modest 1.5% in 2022, as oil exports fall but higher global oil prices boost government revenues and spending.
• We expect that real GDP growth will then accelerate to a still-weak 2.7% in 2023, as oil output recovers and public spending continues to rise.
• Tha

Key View

• MTN is reportedly building private 5G networks in partnership with 14 industry players at several mining facilities and ports nationwide in South Africa.
• In our view, industrial use cases are where the majority of 5G’s utility and value lie. The ultra-low latency and high bandwidth of 5G offers instantaneous transfer of greater