Driving productivity enhanced transformation in S.A

Adjusting to South Africa's political economy has become just as challenging for investors as negative interest rates in other regions, according to Sean Haggadon, an independent strategy advisor. In a recent interview with CNBC Africa, Haggadon discussed ways to drive productivity enhanced transformation in South Africa. Haggadon emphasized the critical role of productivity in improving living standards, highlighting the importance of increasing productivity in a resource-based economy like South Africa where income growth relies heavily on productivity gains. Addressing the current economic and political challenges in the country, Haggadon stressed the need for sweeping policy shifts to boost economic growth. He pointed out that South Africa's transformation and inequality issues, coupled with historical legacies, pose significant obstacles to productivity enhancement. Haggadon suggested that increasing labor force flexibility and tapping into individual ingenuity are crucial for driving productivity in the region. He also highlighted the importance of collaboration and competitiveness in blending commercial and transformational goals. Haggadon urged for a workable growth plan that promotes collaboration between large and small businesses to unlock ingenuity and drive productivity. However, he cautioned against past approaches that focused solely on supporting small businesses without integrating them effectively with established enterprises. Haggadon also raised concerns about South Africa's education system, stressing the need for innovation and collaboration to prepare the youth for a competitive global economy. Overall, Haggadon's insights shed light on the complex challenges and opportunities in driving productivity enhanced transformation in South Africa.