South Africa- Business Opportunities
The Consul General of South Africa, Mrs. Lerato Mashile and Director of Trade and Industry, Mr. Dean Hoff accepted the Honorary Membership of Global India Business Forum, in the presence of Global President Dr. Jitendra Joshi and Global Coordinator, Deepali Gadkari. Realizing the strengths of Global India Business Forum and the Consulate of South Africa and conscious of the benefits to be derived by both organizations and its members through this mutual understanding, both parties will be associated with each other in mutual cooperation to facilitate mutual investment, trade and economic cooperation complimented by knowledge sharing, training, certification and networking.
About South Africa
South Africa, also called as the Republic of South Africa is the southernmost country of Africa. The country shares its borders with countries like Botswana, Mozambique, Namibia, Swaziland and Zimbabwe. South Africa also surrounds the country of the Kingdom of Lesotho as Lesotho is an enclaved country. It has a land area of 12,21,037 sq. km. South Africa has three capital cities namely Pretoria, Bloemfontein and Cape Town. The largest city of South Africa is Johannesburg and the country’s population, as of 2020, stands at 5,93,08,690. About 80% of the country’s population is of African ancestry and there are many African languages spoken by different ethnic groups residing in the country. South Africa is a multiethnic society with people from different religions and cultures, speaking different languages residing harmoniously. The South African constitution recognizes 11 languages as its official languages. However, the most spoken languages are Zulu and Xhosa.
Business Opportunities in South Africa
South Africa is mostly famous for its gold and diamond exports. There are huge deposits of gold and diamonds spread across the country and this would give immense boost to the mining sector as the sector would produce great business opportunities for the countries interested in the mining of gold and diamonds. The country is also rich in the deposit of other natural resources like minerals, for example, manganese, chrome, palladium, vermiculite, etc. and these large deposits of natural resources could be of monetary interest to countries that want to import these materials for their industrial purposes.
Exports and Imports in South Africa
Exports of South Africa decreased lesser purchase of equipment components, textiles, vehicles and mineral products. Also, the exports increased due to the increase in the sales of vehicles and transport equipment, vegetable products, precious metals, etc.
Top Exports of South Africa
The top exports of South Africa are mineral products like chrome, manganese, vanadium, etc. precious metals like gold, platinum and diamonds, vehicles and aircraft vessels, iron and steel products. The top export partners are China, the USA, Germany, India and Japan.
Top Imports of South Africa
The top imports of the country are machinery, mineral products, vehicles and aircraft vessels, iron and steel products. The main import partners of South Africa are China, Germany, the USA, India and Saudi Arabia.