The world is currently grappling with rapid political and potentially economic changes. South Africa, already facing the challenge of maintaining economic stability and growth, now has to navigate increasingly uncertain global conditions. The continuation of long-standing agreements, such as the African Growth and Opportunity Act (AGOA), which have bolstered trade between South Africa and the United States, are now under threat. U.S. President Donald Trump’s executive orders imposing new tariffs on steel and aluminium imports and cutting financial assistance to South Africa have heightened concerns about the future of strategic and important trade relationships.
Such rapid policy changes are also increasingly happening outside of established protocols. The first port of call is social media, and traditional news outlets are left to unpack and understand information-scarce environments. This has created a highly volatile situation where information gaps can lead to a rise in misinformation.
We – as South African citizens, news organisations, and even government officials – have over the past few weeks been thrown in the deep end of this this fast-changing political and economic landscape.
The risk of fast-moving information environments at this scale is that it poses a significant threat to job security and economic growth. The uncertainty undermines business confidence, and potentially influences poor decision-making at both the government and business levels.
To combat misinformation or disinformation, industries must engage proactively with government officials, the media, and the public. As the drivers of economic growth, industries should be proactive in providing clear, factual data about the significance of international trade, local job creation, and economic policies. This is the only way to ensure that decisions are based on reality—not speculation.
A democratically-elected government must serve its people, and in South Africa our government has rightly placed their focus on creating employment and economic growth.
It is imperative for industries and companies to proactively communicate with government officials in the work that is already being done in this field, and opportunities that may exist. It is also important that industries flag the business risks of the current global uncertainty.
By utilising such channels, businesses can ensure that the national agenda remains focused on these key imperatives. South Africa boasts a robust economy with significant potential for growth, particularly in sectors where we can serve as a net exporter, such as agriculture and mining. The ability to export and import goods is vital for these industries, and maintaining favourable trade agreements is essential.
Equipping government officials with clear and concise arguments is crucial. By providing accurate data and insights, industries can help policymakers make informed decisions that support economic growth and job creation. In a world of rapid information flow, proactive communication is key to protecting jobs and economic stability.
