JOHANNESBURG—The South African economy shrank sharply early this year, underscoring the steep challenges facing South African President Cyril Ramaphosa as he embarks on his new term. Africa’s most developed economy fell into its steepest quarterly contraction in a decade, shrinking at an annualized 3.2% in the first quarter, as lengthy power outages hammered key mining and manufacturing sectors.

Source: Wall Street Journal June 04, 2019 17:37 UTC