Today's Labour News

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ictTechCentral writes that SA’s economy should pick up strongly later this year as early signs of spending on IT by small and medium enterprises, which is happening now, typically precedes corporations opening up their purse strings.  

That is the view of Tim Humphreys-Davies, CEO of Pinnacle, the large technology distribution company in the Alviva Holdings stable.  According to Humphreys-Davies, 2017 was a tough year for distribution in SA, but since the end of last year — and particularly into the first quarter of 2018 — there have been signs of spring in the sector, and this should flow through soon into the broader economy.  He indicated that since October last year the retail sector has started to recover, with improved spending leading up to Christmas.  “And it happened quite quickly.  It was a prelude to the ANC elective conference, that something positive was going to come out of that.  The rand was strengthening, and the economy was recovering, so we saw early green-shoots recovery from retail.”  In the first quarter of 2018, the recovery extended to the SME sector, Humphreys-Davies noted.  Distribution tends to recover more quickly than any other sector, as happened after the 2008 recession following the global financial crisis.

  • Read this report by Duncan McLeod and listen to an interview with Humphreys-Davies at TechCentral

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