Manufacturing constitutes South Africa’s secondlargest economic sector and currently accounts for 15.2% of GDP, as well as being responsible for the creation of roughly 1.7m jobs. It also ranks among the top three sectors in terms of multiplier effect, producing R1.16 ($0.11) of value added for every R1 ($0.09) invested according to industry representative group the...
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Articles & Analysis | As industry recovers from the fallout of the global slowdown, the government is working to deepen economic integration from The Report: South Africa 2014
Articles & Analysis | Formal micro-insurance expands, but regulation limits growth potential from The Report: South Africa 2014
Low-income earners are typically the population segment most negatively affected by unexpected adverse events, and they also tend to be the group with the lowest insurance coverage. While South Africa’s micro-insurance penetration compares favourably – around 30% of South African adults use micro-insurance compared to less than 1% in the rest of sub-Saharan Africa – there is...
Interviews & Viewpoints | OBG talks to Barry Scott, CEO, South African Insurance Association from The Report: South Africa 2014
Articles & Analysis | Insurers innovate and expand to ride out waves from The Report: South Africa 2014
Across the African continent, South Africa accounts for 80% of all insurance premiums. The market is heavily tilted towards life products, which make up four-fifths of the industry’s premiums, with earnings in the segment 10 times that of non-life in 2013. At the same time, penetration continues to rise: the number of formally insured South Africans grew from 6.2m people in...
Chapter | Industry & Retail from The Report: South Africa 2014
Manufacturing constitutes South Africa’s second-largest economic sector and currently accounts for 15.2% of GDP, as well as being responsible for the creation of roughly 1.7m jobs. It also ranks among the top three sectors in terms of multiplier effect. The sector’s contribution to GDP has, however, been steadily declining over the past three decades, having accounted for 19% of GDP in 1990...
Across the African continent, South Africa accounts for 80% of all insurance premiums. The market is heavily tilted towards life products, which make up four-fifths of the industry’s premiums, with earnings in the segment 10 times that of non-life in 2013. At year-end 2013, South Africa’s life insurance industry had $189.4bn in assets under management, with the segment’s top five firms showing...