Country Profile
From The Report: South Africa 2014
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Despite being overtaken by Nigeria as the largest economy on the continent, South Africa is still number one in terms of income, with a GDP per capita of $6618 in 2013. The economy has been expanding at a substantially faster rate under democratic rule: between 1980 and 1994 average annual real GDP growth rates stood at 1.4%, whereas between 1998 and 2012 the figure was at 3.2%. South Africa is a constitutional democracy. Since 1994 there have been five general elections, all of which have been won by the ANC. In the most recent election, which took place in May 2014, the ANC won more than 62% of the vote, and Jacob Zuma, the party’s leader and the incumbent president, was re-elected.

This chapter contains interviews with President Jacob Zuma; Gao Hucheng, Chinese Minister of Commerce; and Angel Gurría, Secretary-General, OECD.

Articles from this Chapter

Overview

After 20 years of democracy, the country looks to the future
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In April 2014 South Africans celebrated the 20th anniversary of both the end of apartheid and the creation of the modern Republic of South Africa. These two events highlight just how far South Africa has come in the past two decades, during which the nation’s numerous assets – including a liberalised and internationally competitive economy; a strong and active civil society; a free and diverse media; and a highly functional and democratic government – have contributed to its rise as one of…

Interview

OBG talks to President Jacob Zuma
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Interview:President Jacob Zuma How would you rate South Africa’s economic development in the past 20 years? PRESIDENT JACOB ZUMA: In 1994 the democratic government inherited an economy characterised by deep structural faultlines and serious obstacles to growth. Both the market economy and the labour market were defined by the apartheid system, which acted as a powerful barrier to economic growth across a wide variety of fronts, including foreign investment, a massive skills deficit, inadequate…

Interview

OBG talks to President Jacob Zuma
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Interview:President Jacob Zuma How would you rate South Africa’s economic development in the past 20 years? PRESIDENT JACOB ZUMA: In 1994 the democratic government inherited an economy characterised by deep structural faultlines and serious obstacles to growth. Both the market economy and the labour market were defined by the apartheid system, which acted as a powerful barrier to economic growth across a wide variety of fronts, including foreign investment, a massive skills deficit, inadequate…

Analysis

Taking on history: The legacy of apartheid is gradually being overcome
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On April 27, 2014, South Africa celebrated the 20th anniversary of the country’s first multiracial and fully democratic elections, a momentous occasion that signalled the full end of apartheid and the foundation of the modern democratic state. In 1994, newspapers around the world printed headline photos of the long queues that people waited in simply to cast their first ballot – a striking visual representation of the end of the apartheid era. Since that ballot, South Africa has changed immensely…

Analysis

The nation has close ties with both emerging and developed powers
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South Africa’s ascent as a major diplomatic and economic player within Africa and on the global stage over the past two decades has been swift. In December 1994, less than a year after winning South Africa’s first democratic election in a landslide, the African National Congress (ANC) released a document outlining the party’s perspective on foreign policy. “South Africa is both a trading and maritime nation; our international relations should actively seek to accentuate the significance of…

Viewpoint

Gao Hucheng, Chinese Minister of Commerce, on the prospects for Chinese-African economic & trade cooperation
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Five decades ago, China and Africa supported one another for national liberation and independence, building a profound friendship and mutual trust, and laying a solid foundation for the sound development of Chinese-African economic and trade cooperation. In the past 50 years this cooperative relationship has boasted remarkable achievements and witnessed the development of South-South cooperation. At present, Chinese-African economic and trade cooperation has basically formed a multi-tiered, wide-ranging…

Viewpoint

Gao Hucheng, Chinese Minister of Commerce, on the prospects for Chinese-African economic & trade cooperation
OBG
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Five decades ago, China and Africa supported one another for national liberation and independence, building a profound friendship and mutual trust, and laying a solid foundation for the sound development of Chinese-African economic and trade cooperation. In the past 50 years this cooperative relationship has boasted remarkable achievements and witnessed the development of South-South cooperation. At present, Chinese-African economic and trade cooperation has basically formed a multi-tiered, wide-ranging…

Analysis

Cooperative governance is a key tenant of the South African system
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Chapter three of South Africa’s 1996 Constitution begins “...in the Republic, government is constituted as national, provincial and local spheres of government which are distinctive, interdependent and interrelated.” This sentence, which underpins the nation’s federalist system of authority, has had a profound impact on the development and implementation of government policies over the past two decades. Power in South Africa is divided among federal, provincial and local authorities. Each…

Interview

OBG talks to Angel Gurría, Secretary-General, OECD
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Interview:Angel Gurría What can South Africa do to maximise its potential and achieve inclusive growth? ANGEL GURRÍA: The economy is endowed with vast natural resources, a substantially under-utilised labour pool and a well-developed financial sector that secures easy access to global capital markets. Unlocking this potential will not only lead to stronger growth, but will more importantly help millions of citizens out of poverty. The South African economy offers firm support to large…