South African Reserve Bank Quarterly Bulletin measures impact from pandemic, war
BMWORLDWIDE–PRETORIA–In a sign of how the war in Eastern Europe is impacting the entire African continent, the South African Reserve Bank reports that February saw the highest pressure on supply chains in 15 years.
“The CSCPI increased to its highest level in February 2022 as supply chain pressures intensified further with the spread of the Omicron variant, the implementation of a ‘zero COVID-19’ policy in China, and the Chinese Lunar New Year impacting on absenteeism among employees along with the further depletion of already low inventory levels. The conflict between Russia and Ukraine could prolong global and domestic supply chain constraints further. As demand for consumer goods remains strong, these inventory and container shortages will likely further elevate freight costs”
