KASI Provides Consumer Insights Into African Behavior
Business Promotion in South Africa
The South African Economy
The southernmost country on the African continent, South Africa is a series of plateaus covered in lush grasslands and plains peppered with trees. To the east, south and west of these grasslands is a mountainous region known as the Great Escarpment. Together, these regions generate a diverse group of ecosystems that offer a multi-faceted approach to investment for both foreign and domestic ventures.
With a domestic focus centered on the government’s National Development Plan to wipe out poverty and reduce inequality by 2030, this sector has seen increased focus over the last 12 months. With government reforms taking place and the disestablishment of the Department of Agriculture, Forestry and Fisheries in June 2019 and the formation of the Department of Agriculture, Land Reform and Rural Development will center the focus on agriculture and provide increased government assistance to reach this goal. Despite this domestic nucleus, the agricultural sector is a diverse group of crops that provide a lasting impact on the nation’s economy. The chief crops of the region consist of maize, chicory root, cereals and grapefruit. Unlike other parts of Africa, this sector only employs about 10 percent of its population. With a well-developed commercial farming industry bringing together both private and public entities this industry has seen a lot of transformation over the last two decades and is an industry that is established as a mainstay in the fabric of the South African economy.
South African infrastructure contains a strong core of national economic properties that shape the foundation of a system that needs and is getting improvements. The government unveiled a National Infrastructure Plan in 2012 with an idea to transform the economic landscape and at the same time create new jobs, improve the delivery of basic services and integrate African economies. The formation of the Presidential Infrastructure Coordinating Committee has been implemented to assist with oversight of these planned improvements with the National Development Plan in mind. This committee will coordinate, integrate and accelerate implementation, roll out a centrally-driven National Infrastructure Plan, hold those responsible accountable and generate a 20-year plan that will cross presidential terms so as not to slow down the growth of this sector. With many improvements made to support the World Cup in 2010, South Africa saw improvements across the board with road, railway and maritime ports invested in. That being said, the National Port Authority has infrastructure control over 8 of the largest ports in the country and this provides government-backed support to facilitate the movement of trade goods and people. With multibillion rand invested in the infrastructure plan implementation and a growing economy, South Africa is on the right path to achieve success.
South African Tourism is the official marketing company responsible for presenting South African tourism to the rest of the world. This sector brings considerable influence to the nations’ economy bringing in well over 100 million rand in revenue for the country annually. With breathtaking natural features, exotic wildlife, pristine coastal beaches and cities bustling with cultural diversity there is no shortage of adventure when visiting these lands. The hospitality industry is spread throughout the region and is always looking for new and exciting ways to generate visitors. Foreign investors can bring their ventures here with confidence knowing they have the support of the government and its people.
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