South Africa’s Economy in Best Shape in Decade, Standard Bank Says

South Africa’s economy has entered its strongest phase in 10 years and could see growth accelerate if efforts to clear its infrastructure backlog gain traction, according to an economist at the continent’s largest bank by assets.

Africa’s biggest economy has moved into a more constructive growth phase, Standard Bank Group Ltd. Chief Economist Goolam Ballim said at a media event Tuesday. That’s been supported by improved sentiment following its first sovereign credit-rating upgrade since 2005, the stability of a coalition government formed in 2024 and reforms that have boosted the performance of key utilities such as power and ports, he said.