Background: South Africa is the largest economy in Africa by GDP per capita and is arguably the most diversified economy in Africa. The South African GDP is estimated at $341 billion with a population of 55 million people. Natural resources include gold, platinum, chrome, manganese, vanadium, coal and diamonds. South Africa has a strong judicial and business environment, aligned with international standards as well as strong monetary and fiscal policy. The table below reflects South Africa’s major trade partners (source: UNCTAD):
Geo-Economic Structure: South Africa has a large domestic market and strong positioning in Africa. The country remains the most democratic in Africa. The rate of unemployment at 27.7% has had a negative impact on the populous, especially the youth. The recent growth in GDP has been very low, at only 0.3% in 2016. The economy remains well driven by a strong private sector within mining, manufacturing, financial services and other services. South Africa is the gateway to Africa as it attracts several multinational companies and investors. The country remains the most attractive investment destination Africa can offer despite the political uncertainty caused by the next coming elections.
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