It is often observed that the development of South Africa’s manufacturing activity over recent decades presents something of an anomaly: while the end of the country’s international isolation in 1994 marked the beginning of a period of sustained manufacturing growth, the sector’s contribution to GDP has nevertheless declined as a percentage of...
Amidst a period of market-led consolidation, the continent’s largest pension industry is now facing the prospect of wholesale reform of South Africa’s social security system. While the fiscal implications remain unclear, more inclusive retirement coverage has emerged as a key government priority, alongside health insurance reform (see Health...
Competition in South Africa’s highly concentrated banking sector has led to it having the highest penetration rates – both in terms of credit to GDP and banked customers – of any other African country. The sector had recovered from the effects of the global financial crisis on the real economy by the start of 2012, but significant uncertainties...
The second half of 2012 witnessed some of the most damaging tensions between organised labour, employers and government in over a decade. With political overtones and tragic loss of life, the success of wildcat (unauthorised) strikes at key mines in 2012 secured well-above-inflation wage increases, spurring protests in other sectors such as...
Home to the globe’s 19th-largest exchange, South Africa has mature capital markets able to serve not only the domestic economy but also the wider continent. While its sophisticated nature allows the country to tap financial resources at a lower cost than any of its African peers, its openness has also exposed the economy to the volatilities of...
The Treasury’s wide-ranging financial reform over the next three years will affect South Africa’s insurance sector in at least three distinct ways. Four key objectives have defined the reforms of the financial sector: preserving financial stability, ensuring consumer protection and fair market conduct, extending financial inclusion and cracking...
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