Thursday, March 22, 2007

Great business news from South Africa

[Dar es Salaam, Tanzania]
WITH FIFA's World Cup competition due to arrive on South Africa's shores in 2010, there's no doubt that business is booming like never before. Optimism along with a deep rooted pride is in the air of Africa's most advanced economy. I will definitely have to take a visit down to SA some day to see what all the buzz is about.
Also, it'd be nice to chat with some of their IT professionals since those guys can hold their own against the best in the world. I'm basing this on some IT projects I've seen that originated from over there. Hmmm, I wonder if their authorities will let me into the country after I wrote this article bitching about a particular telkom company: Telkom South Africa: Can a Company be this Hated? Hey, I tell it like it is. :-)

Any how, I urge you to peek these exciting stories coming out of SA that make excellent Go Africa go! material. Go SA go! :-)

SA breeds an exploding middle class
Optimism pervades the country as millions haul themselves out of poverty. In most societies in the world, it takes four to five generations for a person to rise from poverty to affluent middle-class status. In South Africa, a raft of surveys shows this is happening within a single generation. Experts say the American dream, which has lasted for more than 100 years, is starting to wane, while the South African dream is being born. {Read more}

SA's stock exchange on a high
2006 was another record-beating year for South Africa's JSE, with foreigners buying a record net R73.7-billion worth of local shares, the All Share index rocketing 38% - in the process reaching numerous new all-time highs - and the AltX exchange for smaller companies reaching critical mass just three years after its birth. Bloomberg reported this week that overseas investment in South African stocks hit a record high for the second year running in 2006, with foreigners investing a net R73.7-billion in the JSE - up by 47% from 2005 - buying R480.8-billion of shares and selling R407.1-billion. {Read more}

SA scores for ease of business
South Africa ranks among the top 30 countries in the world in the World Bank's Doing Business 2007 report, released in Washington on Tuesday. Doing Business is an annual report that measures the ease of doing business in 175 economies around the world. This year's report measured the effect of 213 reforms that reduced the time, cost, and hassle for businesses to comply with legal and administrative requirements.
"The report is a critical tool for developing countries to determine where more reforms are needed," said World Bank president Paul Wolfowitz.
{Read more}

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