South Africa

South Africa is one of the most advanced economies in sub-Saharan Africa and the fastest-growing consumer market in the world. Along with being a top exporter of gold, platinum and other mineral resources, the country boasts solid democratic institutions, a well-established financial sector, and a youthful and skilled labor force.

In dealing with the legacy of apartheid, however, government efforts to boost participation and opportunity for historically disadvantaged South Africans have had uneven results, leaving the country’s severe income and wealth inequality problems unresolved. Additionally, South Africa continues to suffer from the effects of a decade of economic stagnation that were further exacerbated by the pre-Covid pandemic. Supplemental challenges include a weak rule of law, opaque regulations that can discourage private and foreign investment, and inadequate infrastructure in telecommunication, transport and energy.