South Africa

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Legislation introduced by the government to boost the country's diamond processing industry could instead result in a massive drop in investment, employment and production across the sector, critics of the new law have claimed.
Climate change could pose a major challenge to the South African economy, with water shortages and increasing aridity affecting agriculture, industry and urban settlement, experts have warned.
In an effort to reduce its dependence on imported oil, South Africa's Industrial Development Corporation (IDC) and the Central Energy Fund (CEF) announced earlier this month that they would be providing $448m in funding to establish biofuel operations in five communities across the country
Figures released on April 3 by the UK-based Investment Property Databank (IPD), showed that the overall returns from the South African commercial property market, came in at 26.7% in 2006, a result that has been bettered only once in the past 12 years, with 30.1% in 2005.
Reserve Bank Governor Tito Mboweni has warned that South Africa's strong growth rate could be one of the factors driving up the country's inflation rate, adding to the pressure from high oil prices, strong consumer spending and the recent poor performance of the agricultural sector.
The central bank of South Africa just released the current account deficit figures for the fourth quarter of 2006, recording a rise to 7.8% of GDP.

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