Electronic Transactions Data Shows Slight Economic Activity Rebound

Data tracking electronic transactions in South Africa has showed a slight rebound in economic activity in 2024 following negative growth in 2023.

The BankservAfrica Economic Transactions Index increased on average by 1.7 in 2024, compared to the contraction of 0.5 the previous year.

The index tracks the value of all electronic transactions cleared through BankservAfrica at seasonally adjusted real prices.

The number of transactions that cleared in January moderated to 156.2 million compared to 170.4 million in December that marked an all-time high.

Despite this, the transaction volumes were still 2.7 up from a year ago.