Data released by Statistics South Africa show businesses are indicating signs of recovery amid the country’s economic challenges.

According to Stats SA, liquidation cases have fallen by 30 to 138 in March. This represents a decrease of 17.9% on a year-on-year basis.

However, close-corporations and companies have continued to close shop at a higher rate.

Stats SA’s Onica Mushwana says, “This represents a decline of 30 liquidations from a total of 168 in March 2023 to 138. In March 2024, 138 liquidations recorded … include 13 compulsory liquidations and 125 voluntary liquidations, broken down by the type of institution, 66 companies and 72 close corporations shut their doors in March 2024.”

Source: SABC News