South Africa's mining sector contributes 9% of GDP directly and over 30% in foreign exchange earnings, writes Minister of Mineral Resources Ngoako Ramatlhodi. Now new regulatory reforms are set to boost this contribution even further.
Tight fiscal policy and well-targeted social support, such as child and disability grants and free basic services, have helped to lift millions of people out of poverty. If South Africa can ride out external factors, the World Bank states, its economy will grow and its social programmes will continue.
When Zimbabwe's economy tanked in 2002, the people spoke of "the coin problem". Because there was no change, every purchase had to be rounded up to the dollar. With most people living on the breadline, this was a severe hardship. Enter Econet Wireless and its innovative mobile payment system.
Speaking at a seminar organised by Brand South Africa and the Department of Trade and Industry, Andre Groenewald from the Department of International Relations said Africa's star was rising, as the continent's natural resources give it a competitive edge in the global economy.
The Brics Business Council recently met for the first time. Before the gathering, Minister Rob Davies and South African council chairperson Patrice Motsepe spoke about the value of the nation’s membership of the grouping to the African continent, particularly when it came to trade and investment.
• Developments from Brics summit