South Africa Petrochemicals Q3 2018
South Africa's petrochemicals industry entered 2018 in a more precarious position with output down and mixedperformance for end-use industries, particularly construction. While temporary factors were blamed for plant downtime, thecountry's ongoing economic struggle has not gone away. Sporadic industrial actions, the recent more investor 'unfriendly' policyproposals and high operating costs will temper firms' enthusiasm for operating in the country in the coming quarters. Whileinvestors were initially cheered by Cyril Ramaphosa's appointment as president, actually enacting necessary structural changesufficient to improve the operating environment will be, at best, a gradual process given deep divisions within the ruling AfricanNational Congress (ANC).