Firms implore government to take remedial action

LOCAL firms have implored authorities to take corrective action on the economy amid concerns that the operating environment will negatively weigh on companies’ earnings and adversely affect output.
According to recent trading updates, the operating environment continued to be challenging throughout the year as the exchange rate has continuously depreciated.

Power supply challenges also worsened as the country experienced acute load shedding, which negatively impacted productive industries, with alternative power sources coming at a high cost of production.
Innscor Africa said it operated under turbulent economic conditions during the quarter, as the market experienced significant inflationary pressure, currency instability and constrained local and foreign currency liquidity, which gave rise to weakening disposable income within the consumer