Its GDP is almost as big as the rest of the sub-saharan Africa’s 47 countries combined.
Black Economic Empowerment (BEE) is a program launched by the South African government to redress the inequalities of Apartheid by giving previously disadvantaged groups (black Africans, Coloureds, Indians and some Chinese--who are SA citizens) economic opportunities previously not available to them. It includes measures such as Employment Equity, skills development, ownership, management, socioeconomic development and preferential procurement.
The transport sector has been highlighted by the government as a key contributor to South Africa's competitiveness in global markets. It is increasingly being seen a crucial engine for economic growth and social development.
99.9% digital and includes the latest in fixed-line, wireless and satellite communication, the country has the most developed telecoms network in Africa. South Africa ranked 34th in the world in terms of fixed-line telephony, with over 4.3-million fixed-line connections. 46.4-million mobile users in South Africa, ranking the country 26th in terms of subscriber numbers.
In 1994, South Africa accomplished a peaceful transition of power with the black majority party, African National Congress (ANC), taking over power. ANC’s leader Nelson Mandela, a Nobel peace prize laureate, served as its first post-apartheid president.
Doing business in SA is risky. Managing risk is a challenge.
Since 1994, South Africa has introduced fundamental and comprehensive changes to its “rules of the game”, unleashing both uncertainties and opportunities
Approximately 96% of the country's exports are conveyed by sea, and the seven commercial ports are the conduits for trade between South Africa and its southern African partners as well as hubs for traffic to and from Europe, Asia, the Americas and the east and west coasts of Africa
Richard's Bay is the world's largest bulk coal terminal
754 000 kilometres, 9 600km of which are surfaced national roads
10th longest in the world - connecting with networks in the sub-Saharan region
Gautrain rapid rail link
80km rapid rail network connect sJohannesburg, Pretoria and OR Tambo International Airport, easing congestion on the Joburg-Pretoria highway by offering commuters a safe and viable alternative to road travelThe R25-billion project is a public-private partnership between the Gauteng provincial government and Bombelo Concession Company, a Canadian-French-South African consortium
One of the fastest growing mobile communications markets in the world
Dominated by multinational companies Vodacom and MTN
MTN, Vodacom and Neotel are jointly building a 5 000km fibre-optic cable network connecting several major centres across South Africa. The first phase of the cable, linking Gauteng with KwaZulu-Natal, was commissioned in June 2010.
10% internet penetration
Source : http://www.doc.gov.za/
Pillar 3 – Macro Economic Environment Source : South Africa Reserve Bank and http://www.statssa.gov.za Unemployment Rate : 25%
South Africa is maintaining its strong showing in world rankings, with a number of recent international reports supporting the country's strengths as an investment destination.
South Africa remains the highest ranked country in sub-Saharan Africa, with what the World Economic Forum describes as "a very stable performance”
South Africa ranks 34th in the World Bank and International Finance Corporation's Doing Business 2011 report, an annual survey of the time, cost and hassle involved in doing business in 181 countries around the world.
Pillar 11 Business sophistication Doing Business 2011 Rank Doing Business 2010 Rank Change in Rank 34 32 -2 Topic Rankings DB 2011 Rank DB 2010 Rank Starting a Business 75 66 Dealing with Construction Permits 52 52 Registering Property 91 87 Getting Credit 2 2 Protecting Investors 10 10 Paying Taxes 24 23 Trading Across Borders 149 148 Enforcing Contracts 85 86 Closing a Business 74 77
South Africa had adopted technology quite early and had marvelous contribution to health care advancement, eco safety, mobile technology and even to cricket.
Some of those well noted inventions are CT Scan, oil from coal refinery, the first heart transplant and Speed Gun - the device that accurately measures the speed and angles of speeding objects such as cricket and tennis balls
And with the advancement of economy, technology is still the heart of business innovation that fuels inclusive growth
Webbox -The internet on your TV: As part of its push to bridge the digital divide in South Africa, mobile operator Vodacom has launched the WebBox, an innovative device developed specifically for emerging markets that turns a standard television set into an internet portal.
Moblie money transations: With the advent of various m-commerce models like mobile money and mobile banking, access to and the facilitation of financial transactions and financial information has become a method and means of business for African entrepreneurs.