How South Africa Is Booming From A Business Aspect

South Africa’s economy has recorded a steady rate of growth for years now, so it’s unsurprising that the country is fast gaining a formidable reputation as a place to do business.

Although 2015 saw a slight drop in growth, South Africa is still recognised as one of the planet’s major emerging economies – here’s why.

Johannesburg, South Africa
Johannesburg, South Africa – photo credit: Paul Saad / Flickr

Huge business sector demand

There are certain sectors in the South African economy that are still crying out for investors and entrepreneurs to meet demand. There is no shortage of opportunities for prospective business owners, with the food processing and agricultural sectors having particular potential for development.

Clothing is also a very lucrative business in South Africa, because demand for South African-made clothes expands beyond the country itself to neighbouring nations. With easy access to the rest of the continent, the transit of goods and services to other nations is also pretty straightforward.

Business owner in South African market

Amazing economy

South Africa has a very robust economy – the largest in all of Africa, in fact, recently beating Nigeria for the title, with the country now accounting for 24% of the continent’s gross domestic product.

South Africa is also part of the international association BRICS, which is a collection of major emerging economies focused on reforming financial institutions and improving the global economy.

In 2010, South Africa was invited into the BRICS association by the other member nations Brazil, Russia, India and China. They recognized South Africa as a nation that showed regular economic growth and could be trusted in handling global financial affairs.

South Africa offers abundant opportunities to start-up businesses and more established firms alike, with business owners in the country able to enjoy long periods of high earnings to protect themselves against whatever small drops in the market may occur from time to time.

Cocoa beans

Bountiful natural resources

South Africa also enjoys prosperous trade agreements with several nations, thanks in part to its abundance of highly sought-after natural resources.

The country is a source of a wide range of valuable resources, such as diamonds, gold, silver, iron and uranium ore. Precious metals aside, the country also exports and trades cocoa beans, wood and many exotic fruits.

Fuel is another great resource that is readily available in South Africa. Oil and gas companies flock to Africa to try to make a profit from its natural fuels. Indeed, as reported by the likes of News 24, the economy of South Africa could be poised to expand even more with the discovery of natural gas, according to a report commissioned by Rhino Oil and Gas.

Again, thanks to the robust economy, business owners in South Africa enjoy longer periods of growth and prosperity. Plus, with all that is available in South Africa, more and more businesses are considering setting up shop in the country, creating a much healthier job market for both South Africans and foreign investors.

Business leadership in South Africa
photo credit: Primeca Inc. / Flickr

Don’t underestimate the merits of South African investment

The process of investing in a business or starting one up from scratch has been made much simpler by the South African government – encouraging economic and business growth throughout the country.

You can even make cheap calls to South Africa with a dependable international calls package provider like Planet Numbers to arrange your independent financial skills permit in no time. With the healthiest economy on the continent – one that is also capable of rivalling the other emerging economies in the world – South Africa is nothing less than one of the hottest places to invest.