Friday, October 19, 2007

South Africa an Economic Primer

In summary South Africa is an economic powerhouse of the southern hemisphere. In comparison to the other economies on the continent South Africa is the undisputed leader. This is excellent info for anyone considering an international business destination!

Chart from South Africa's official state information site:

South Africa: Selected economic indicators

"South Africa is the economic powerhouse of Africa, with a gross domestic product (GDP) four times that of its southern African neighbours and comprising around 25% of the entire continent's GDP.

The country leads the continent in industrial output (40% of total output) and mineral production (45%) and generates most of Africa's electricity (over 50%).

Its major strengths include its physical and economic infrastructure, natural mineral and metal resources, a growing manufacturing sector, and strong growth potential in the tourism, higher value-added manufacturing and service industries.

South African banking regulations rank with the best in the world. The sector has long been rated among the top 10 globally. There are 55 locally controlled banks, 12 foreign-controlled banks and five mutual banks. Some of the world's leading institutions have announced their intention to enter the local banking sector through mergers and acquisitions."

No comments: