Cut red tape plaguing economy — SA urged

South Africa should end its "excessive" regulatory burden and revamp its black-ownership laws to remove the "signs of paralysis" that plague its economy, the World Bank said.

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Enabling these changes would take the country off what the lender termed "the wrong growth trajectory", where real output per capita in 2023 was less than in 2007, the unemployment rate is among the highest globally and inequalities persist.

"The burden of institutions has become excessive — not only for businesses and citizens, but also for public administration," it said.