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Johannesburg - Investment in capital such as machinery and equipment has been progressively replacing jobs in agriculture, mining, manufacturing and construction, a World Bank report, released this week, has claimed.
Marek Hanusch, a senior economist for South Africa at the bank, said since the advent of democracy in 1994, the local economy had become more capital intensive.
According to the ninth edition of the bank’s SA Economic Update report, “since 2008, investments in manufacturing have decelerated, [while they have] accelerated in the electricity sector”.
