Page 15 - KZN Top Business Portfolio eBook -2024

KWAZULU-NATAL
PROVINCIAL OVERVIEW

KWAZULU-NATAL STRONGER THAN BEFORE Speaking at a recent business leadership panel
discussion hosted Investec Toyota South Africa
vice president and immediate past president of the
Grant Adlam, Chief Durban Chamber of Commerce and Industry, Nigel
Executive Officer Ward, said the Covid-19 pandemic, July 2021 civil
and Publisher of the unrest and April 2022 floods had instilled resilience
KwaZulu-Natal Top and united the people of the province.
Business Portfolio
“I think the three crises made the province stronger
and that’s quite ironic, because there’s been a lot
The last few years of sorrow as we’ve gone through those three big
have been especially events. But each one has made us stronger for the
difficult for KwaZulu- next one,” he said.
Natal with a series of
disasters — the onset KwaZulu-Natal plays a significant role in South Africa’s
of Covid-19, followed economy and is the second largest contributor to the
Publisher / CEO:
Grant Adlam by the unrest in country’s economy. The province contributed 15.9%
July 2021, and the to the national provincial gross domestic product
floods in 2022. However, despite these challenges, (GDP), second to Gauteng’s share of 33.1% (STATSSA
businesses in the province have not only found the October 2023). The provincial economy grew by 2.7%
means to survive but also to flourish. in 2022 and is expected to grow by 1.7% in 2023.

Gauteng Province is the largest economy, contributing 33,3% to national GDP Percentage
contribution to South African GDP in 2022 (Total: R6,6trillion)

KwaZulu-Natal Mpumalanga Limpopo
8,0%
7,7%
15,9%

Gauteng
33,1% Eastern Cape
7,6% Free
State
4,9%
Western Cape
13,9%
North West Northern
6,6% Cape
2,2%
Current prices Source: Provincial gross domestic product: experimental estimates, 2013-2022. Discussion document (D0441.1)
Source STATS SA October 2023

www.kzntopbusiness.com 13