Manufacturers in South Africa will adapt again in response to market dynamics, report shows

Almost all African and South African CEOs of listed manufacturing companies, or 97%, said they changed their business models over the past five years and more than 40% expect to further change their business models over the next five years, said assurance, advisory and tax services firm PwC Africa Industrials and Services leader Pieter Theron. PwC's 'South Africa Manufacturing Analysis 2024' report shows that the sector is resilient, with only a small decrease in overall sales, despite facing significant headwinds driven by an underperforming economy, escalating production costs and logistics disruptions.