Prior to the 2011 revolution, Egypt was making steady progress in reducing persistent fiscal deficits, thanks to sustained efforts by reformist governments. One of the most enduring legacies of that period is a much-improved tax system, which replaced a bloated and inefficient process with a more streamlined and wider-based structure. Simplified tax procedures and lower...
Two years of political upheaval have increased tensions over the country’s financial health and left the economy in an uncertain situation. After tourists and many foreign investors departed following the 2011 revolution, foreign currency reserves declined. Egypt’s average monthly current account deficit stands at between $400m and $500m. With over $20bn spent since the...
As one of South Africa’s three main urban centres, Durban plays a central economic and social role in KwaZulu-Natal (KZN). For FY2013, the city posted a GDP growth rate of 2.6%, behind only Johannesburg (2.75%), and well ahead of the national rate of 1.89%. The main sectors contributing to Durban’s economic growth were manufacturing (22%), finance (22%), community...
Renamed KwaZulu-Natal (KZN) in 1994 following the merging of Natal province with KwaZulu, KZN is South Africa’s second largest provincial economy, serving as a strategically important base for manufacturing and exports. Also known by its nickname “the garden province”, KZN is a popular domestic tourism destination throughout the year, offering subtropical coastline in...
Woolworths Holding is an investment holding company, listed on the Johannesburg Stock Exchange, and operating through two subsidiaries, Woolworths (proprietary) and Country Road, as well as joint venture Woolworths Financial Services. Woolworths is a chain of retail stores in South Africa and certain countries in Africa and the Middle East that offers a range of clothing, food and general...
With an economy worth roughly one-third of a trillion dollars, South Africa only accounts for 0.5% of global GDP. Nevertheless, the trillion-dollar market capitalisation of the Johannesburg Stock Exchange (JSE) makes the country’s bourse the 19th-largest exchange worldwide. South Africa has one of the highest equity capitalisation-to-GDP ratios globally, a unique phenomenon by...
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