The banks are the steady ship in the nation. Banks with strong leaders who know and understand the markets are miles ahead of the fraudsters and are continually upgrading their systems to detect any wrongdoing.
The South African banking sector and the building and mining sectors will have a significant influence on pulling the economy out of the pit throughout the following year. These industries will significantly impact unemployment and bring the economy out of the current slow growth into a season of vibrancy.
South Africa’s debt levels are too high. Prayer is needed that God will give our leaders boldness to be decisive in their actions, especially in reducing the public expenditure and wage bill that places too much strain on the economy.
There will be much more vibrancy in the South African economy than was expected.
Companies that withheld funds in recent years will start to reinvest in the South African economy. Many local firms that were unsure about the future will begin to hire and expand their services. Monopolies that ruled sectors of the economy in the past, especially in the housing industry, have been cleared out, and new growth will occur.
The functions and systems of the Portfolio Committee on Trade and Industry are vague and unclear. Therefore, a revision to clarify regulations and procedures needs to take place to enable people to put them into practice.
Fracking in South Africa
A resurgence of companies attempting to gain fracking permits in South Africa will occur. They are focusing on new areas for fracking in the Cape. This will be stopped, and they will not be allowed to buy any land. (Read: SA fuel company cuts all ties with Shell over seismic survey).
Find fulfilled prophecies here.
Government and the economy
The South African government will revise its policy in terms of appointments in ministerial positions. Ministers will no longer be appointed because of their political patronage but because of their area of expertise and knowledge.
Industry-specific leaders will lead the government in their respective areas. This will have a significant impact, resulting in large-scale changes in government policies.
Corruption eroded foreign investment in South Africa due to removing key protective economic guidelines that ensured the safety of investments. The government will have to revisit their strategies to gain investor confidence. Older, much wiser consultants will assist in the process of renewing economic strategy. Investors who want to invest abroad will have to be wise in what and how they invest in future.
The International Monetary Fund (IMF) will push the government to repay the nation’s debt. The IMF will attempt to take over sectors of the economy to restabilise the country. Prayer is needed for this situation.
In the past, high prices of shares in the stocks market made it impossible for many people to invest. For the next five years, lower prices will give these people an opportunity to invest. The finance sector will experience volatility. But other sectors, like the equities market, will deliver good investment opportunities in 2021.
Many opportunistic investors will invest in South Africa in the right conditions. South Africans need to be alert and quick to respond to the opportunities these investors will bring within their sector.
The mining industry was once the nation’s backbone but is currently on its knees, although there are sufficient natural resources. The country must look elsewhere for their income. The people do not trust those running the mining industry anymore. Courageous foreign investment is needed to bring it back to life.
Investors will be very selective about which mines they invest in. Ownership of mines will change, and new methods of extraction and processing will be used.
A tremendous increase in property value will occur in South Africa due to a lack of housing.
Tighten your belts, there are tough times ahead.
Significant fluctuations will be experienced in the economy throughout 2021. Unfortunately, the political environment will continue to hurt the economy and foreign direct investment.
Critical decisions will determine how soon the economic downturn will end. People need to adjust their expectations accordingly. Signs of new life will be seen in 2021 that will stir up some optimism, but growth will be slow. The third quarter of 2021 will start showing an upward trend. A prolonged economic recovery has been forecast, but God will speed up the process and halve the recovery time.
The building industry will increase rapidly, beginning in 2021.
New buildings will be popping up in many places. Big companies and strong investors with unutilised funding will invest in construction. However, it will seem out of touch with what the economic realities are. Although the industry expects many buildings to remain vacant in 2021, construction companies will complete contracts that have been in place in the past, building with an outlook towards 2022 and 2023.