South Africa Articles & Analysis

The second-largest economy in Africa after Nigeria, South Africa benefits from some of the most sophisticated financial markets in the world, paired with a robust regulatory system, and is also home to the headquarters of a number of major multinational players in the fields of industry, energy and financial services.

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Marketing efforts in South Africa’s tourism industry have picked up on several fronts in recent months as officials look to tap traditional source markets on the back of positive sector growth last year.

Plans to make higher education free for most South African students in a phased rollout took a step forward in late February, with news that the government was allocating R57bn ($4.8bn) to cover tuition fees for low-income, first-year students.

Telecoms companies in South Africa are gearing up to improve mobile broadband services following the launch of the country’s first 5G trials, although sector regulations may delay rollout in the near future.

A strong mid-year performance helped lift South Africa’s economy out of recession and back into positive territory in 2017. However, factors such as high unemployment and an expanding deficit could rein in growth in 2018.

Malusi Gigaba, South Africa’s minister of finance, delivered the Medium-Term Budget Policy Statement (MTBPS) to Parliament on October 25, outlining a mix of partial privatisations and infrastructure spending aimed at spurring economic growth while still pursuing fiscal consolidation.

While South Africa’s economy has emerged from recession and is showing signs of sustained growth, that has yet to feed into the property market, meaning residential sales and new construction will likely remain subdued for the rest of this year.