Limpopo's strong economic growth result of diversification

Skills-intensive tertiary sectors like finance lead revival

- By Mzwandile kaBizokwakhe

In a year of mixed economic results for South Africa, Limpopo has emerged as a standout performer, recording one of the nation's strongest growth rates for 2024.

According to the latest Statistics SA’s provincial GDP estimates, Limpopo’s economy expanded by 0.9%, a feat achieved despite significant headwinds in its traditional primary sectors.

“The growth was primarily driven by a surge in the finance, real estate and business services industries, alongside a robust performance in personal services, which includes health and education. These sectors were bolstered by gains in utilities, transport, communication, general government, manufacturing and trade.

“This broad-based expansion successfully offset poor performances in agriculture, construction and the province's hallmark mining sector,” Stats SA wrote.

The Limpopo Economic Development Agency (Leda) attributes this resilience to a longer-term strategy of economic diversification and a concerted push towards industrialisation.