SACCI Media Statement: The Middle East

SACCI Press Release

Monday 23 March 2026

The developments in the Middle East have created instability in the financial markets including
disruptions to major supply routes and supply chains.

This will have a significant impact on the
global economy, with the resultant negative effects to the business cycle and a clear
deterioration in inflation, interest rates, economic growth, exchange rates, commodity prices.

This does not bode well for any prospect of recovery that we would have anticipated as South
Africa.

We call on all the warring parties to exercise restraint and careful judgement in calling for an
immediate ceasefire.

The adventure of wars cannot resolve disputes, and it is concerning that the multilateral
institutions that have been built over the many decades are now unable to stamp their authority
and ensure that rules are observed by all.

The failure to resolve this conflict does not bode well for the future of the global economy.
We call on the South African government to aggressively take action and move the diplomatic
initiative to lobby and campaign with global partners to call a ceasefire and an end to hostilities:

The destruction of civil infrastructure in energy and water has a devastating effect globally.
We have to make all efforts to stop and end the war by finding sustainable solutions for peace.

Contact: Alan Mukoki SACCI CEO Cell: 082 551 1159