Chief economist at the Efficient Group, Roodt is renowned for his insights stemming from over two decades of economic and political analysis experience. He touched on how Trump’s presidency will affect not only America’s economy but also Africa’s and the rest of the world.
He also commented on South Africa’s increasing unemployment rate and how high debt will further send the economy on a downward spiral if no actions are taken immediately.
“There are approximately nine million unemployed people in the country. We need to grow our economy steadily in order to curb the unemployment rate and in doing so we will strengthen the rand and this will have a positive knock-on effect in the future.”
“Local retailers are resilient in this tough economic climate. We are faced with challenging times, but I am impressed by how steadfast our retailers are. The retail industry at large is a vibrant and dynamic one. No matter where you go in the world, you are sure to find a retailer of sorts. This means that there are many opportunities, even in these tough economic times. The bottom line is that if retailers can survive under these challenges, they will fly once the economy stabilises. This year we will see our economy grow a little faster.
“My advice to retailers is that currently, the country is experiencing low interest rates at the moment. Capitalise on this low-interest environment and capitalise now for the future. Position yourself towards economic growth because, once our economy strengthens, retailers who have prepared for this can capitalise and succeed. I would also like to let consumers know that we are all going through a tough time. The greatest weapon of all time is the pen and with the pen, we can decide whom to put in power. With strong leadership, economies strengthen, unemployment decreases and people succeed.”
SACSC CEO Amanda Stops said she was excited to have Roodt as a guest speaker for the first event of the year. “Dawie Roodt is an acclaimed economist and his insights definitely have relevance for the retail industry. Collectively, these types of events give everyone a chance to monitor trends, exchange ideas and share knowledge to support our industry growth and deliver value to our members.”
The quarterly networking breakfasts take place in Cape Town, Durban and Johannesburg and are attended by retail, property and industry heavyweights.
