A vision of a “rainbow nation” characterised by shared prosperity for all

South Africa has travelled a remarkable road in the two decades since its transition to democracy.  There are key opportunities that can reignite South Africa’s progress. South Africa can draw on its skilled labour to grow into a globally competitive manufacturing hub focussed on high-value added categories such as automotiveindustrial machinery and equipmentand chemicals.

South Africa is investing heavily in infrastructurebut big gaps remain in electricitywaterand sanitation.

South Africa’s electricity shortage has constrained growthand despite new capacityanother shortfall is projected between 2025 and 2030.

With the necessary regulatory certaintyit has been estimate that South Africa could install up to 20GW of gas-fired power plants to diversify base-load capacity by 2030.

South Africa has highly developed service industriesyet it currently captures only 2% of the rest of sub-Saharan Africa’s market for service importswhich is worth nearly half a trillion rand.

With consumption rising in markets throughout sub– Saharan Africa and AsiaSouth Africa could triple its agricultural exports by 2030.

This could be a key driver of rural growthbenefiting the nearly one in ten South Africans who depend on subsistence or smallholder farming.

Successfully delivering on these priorities will move South Africa closer to realising its long-held vision of a “Rainbow nation” characterised by shared prosperity for all.

mek

 

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source:http://www.mckinsey.com/global-themes/middle-east-and-africa/south-africas-bold-priorities-for-inclusive-growth-Richard Hobbs accessed05/03/16

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