South Africa

The mining industry in South Africa is the fifth largest in the world, and today it accounts for more than 5% of the nation’s GDP. Moreover, the sector remains one of the country’s most important sources of employment, providing 16.2% – or nearly 1.4m – of the total formal non-agricultural jobs. The labour unrest that was seen in 2012 highlighted some of the challenges faced by the sector as it...

As the continent’s most developed insurance sector, South Africa accounts for some 52% of African non-life premiums. The short-term insurance market is primarily focused on property and auto products, which together make up almost 75% of short-term gross premiums. Speedy growth in the number of independent insurers has created a robust takeover environment for the major insurers. However, the...

Home to the world’s 19th-largest exchange, South Africa has mature capital markets able to serve not only the domestic economy but also the wider continent. As global risk appetite for emerging market equities returned from mid-September 2012 following concerted interventions by the world’s central banks, South African equities rallied sharply. Bonds also did well in 2012, despite sovereign...

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 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 remain, stemming mainly from the flat growth outlook in...

With a gross GDP of approximately R3.2trn ($390bn) as of year-end 2012, South Africa has the largest economy in Africa and the 28th largest globally. Industrial strife and policy uncertainty, however, have become key sources of investor concern of late. Recent years of slowing growth have failed to make much of a dent in structurally high unemployment and inequality, although a new government-...

Often referred to as the Rainbow Nation, South Africa has a heterogeneous population that reflects its rich and sometimes turbulent history. Recent times have seen the country score a number of high-profile successes, such as inclusion in the BRICS bloc, as a result of strong economic performance. South Africa benefits from strong ties with a number of major global powers, among which its single...