|Machinery and Equipment|
|Metals and Minerals|
|Machinery and equipment|
South Africa, officially the Republic of South Africa (RSA), is the southernmost sovereign state in Africa. It is bounded on the south by 2,798 kilometers of coastline of Southern Africa stretching along the South Atlantic and Indian Oceans, on the north by the neighboring countries of Namibia, Botswana, and Zimbabwe, and on the east and northeast by Mozambique and Swaziland, and surrounding the kingdom of Lesotho. South Africa is the 25th-largest country in the world by land area, and with close to 53 million people, is the world's 24th-most populous nation. It is the southernmost country on the mainland of the Old World or the Eastern Hemisphere. It is the only country that borders both the Atlantic Ocean and the Indian Ocean. About 80 percent of South Africans are of Sub-Saharan African ancestry, divided among a variety of ethnic groups speaking different Bantu languages, nine of which have official status. The remaining population consists of Africa's largest communities of European (white), Asian(Indian), and multiracial (colored) ancestry.
South Africa has a sophisticated financial structure with the JSE Securities Exchange, a large and active stock exchange that ranks 18th in the world in terms of total market capitalization as of March 2009.
The banking industry, overseen by the South African Reserve Bank, is dominated by four local players: Nedbank, ABSA, Standard Bank and First Rand. These banks provide both retail and investment banking services as the sector has become highly competitive with the re-entry of many experienced foreign banks, which returned to the market in the mid-1990s, having left in the late 1980s. Banks operating in South Africa, when left short of liquidity, need to borrow from the SARB at a fluctuating repo rate, which in turn allows the central bank to monitor liquidity positions.
|Agriculture||Small grains, wheat, milk, maize, fruits, tobacco, cereals, wools.|
|Manufacture||Machinery, Automotive, Mining.|
|Services (Including financial)||65.9% (2011 estimate)|
|Kumba Iron Ore||Mining|
|South African Breweries||Consumer goods|
|Tiger Brands||Consumer goods|
|Mediclinic International||Health Care|
|Pretoria Portland Cement Company||Industrial|
|Machinery and Equipment|
|Metals and Minerals|
|Machinery and equipment|
JSE Limited (previously the JSE Securities Exchange and the Johannesburg Stock Exchange is the largest stock exchange in Africa. It is situated at the corner of Maude Street and Gwen Lane in Sandston, Johannesburg, South Africa. As of 31 December 2013, the market capitalization of the JSE was at US$1,007 billion.
The JSE provides a market where securities can be traded freely under a regulated procedure. It not only channels funds into the economy but also provides investors with returns on investments in the form of dividends.
The exchange successfully fulfills its main function—the raising of primary capital—by rechanneling cash resources into productive economic activity, thus building the economy while enhancing job opportunities and wealth creation.
The exchange is directed by an honorary committee of 16 people, all with full voting rights. The elected stockbroking members, who cannot number less than eight or more than eleven, may appoint an executive president and five outside members to the committee. Policy decisions are made by the committee and carried out by a full-time executive committee headed by the executive president.
The JSE is governed by its members but through their use of JSE services and facilities, these members are also customers of the Exchange. Although there is only one stock exchange in South Africa, the Stock Exchanges Control Act (repealed by the Securities Services Act of 2004) does allow for the existence and operation of more than one exchange. Each year the JSE must apply to the Minister of Finance for an operating license which vests external control of the exchange in the FSB.
As a direct result of the late 2000s recession, some economies in Africa have been primarily affected by reduced global demand and lower prices of commodities such as oil, platinum, nickel, gold, and copper. South Africa was the first African country to fall in a recession. Moody's Investors Service warned on July 7, 2008, that South Africa could slip into a recession by the turn of the year. Moody's cited electricity shortages, high-interest rates, soaring inflation, a slumping housing and vehicle market and lower business and consumer confidence indicators. Growth in South Africa's real gross domestic product for the first quarter of 2008 slowed to 0.39%. CPIX inflation, the monetary-policy inflation target measure, rose 10.9% on a year-on-year basis in May, its highest level since November 2002. South Africa's National Treasury criticized the statement by Moody's saying, "It's not possible that we'll end up in recession." He added that the government may revise lower its 4 percent growth forecast for the year following growth of 5.1% in 2007. Car sales in South Africa dropped an annual 22 percent in June due to higher interest rates.
South Africa is a multiethnic society encompassing a wide variety of cultures, languages, and religions. Its pluralistic makeup is reflected in the constitution's recognition of 11 official languages, which is among the highest number of any country in the world. Two of these languages are of European origin: Afrikaans developed from Dutch and serves as the first language of most white and colored South Africans; English reflects the legacy of British colonialism and is commonly used in public and commercial life, though it is fourth-ranked as a spoken first language. The country is one of the few in Africa never to have had a coup d'état, and regular elections have been held for almost a century. However, the vast majority of black South Africans were no ten franchised until 1994. During the 20th century, the black majority sought to recover its rights from the dominant white minority, with this struggle playing a large role in the country's recent history and politics. The National Party imposed apartheid in 1948, institutionalizing previous racial segregation. After a long and sometimes violent struggle by the African National Congress and other anti-apartheid activists both inside and outside the country, discriminatory laws began to be repealed or abolished from 1990 onwards.
Since 1994, all ethnic and linguistic groups have had political representation in the country's democracy, which comprises a parliamentary republic and nine provinces. South Africa is often referred to as the "Rainbow Nation" to describe the country's newly developing multicultural diversity in the wake of segregationist apartheid ideology. The World Bank classifies South Africa as an upper-middle-income economy and a newly industrialized country. Its economy is the second-largest in Africa, and the 34th-largest in the world. In terms of purchasing power parity, South Africa has the seventh-highest per capita income in Africa. However, poverty and inequality remain widespread, with about a quarter of the population unemployed and living on less than US$1.25 a day. Nevertheless, South Africa has been identified as a middle power in international affairs and maintains significant regional influence.
|Jacob Zuma (President)||Prof Kader Asmal (Human Right Activist)|
The rand sign: R; code: ZAR is the currency of South Africa. The rand has the symbol "R" and is subdivided into 100 cents, symbol " c". Unlike the dollar, the decimal separator between rand and cent is expressed by a comma. The ISO 4217 code is ZAR, from Dutch Zuid-Afrikaanse Rand (South African Rand). The rand is the currency of the Common Monetary Area between South Africa, Swaziland, Lesotho, and Namibia.
Historical users of the South African rand included South-West Africa and the nominally independent Bantustans under the apartheid system.
The rand takes its name from the Witwatersrand (literally "white waters' ridge" in English), the ridge upon which Johannesburg is built and where most of South Africa's gold deposits were found.
The cent was introduced in the then Union of South Africa on 14 February 1961, three months before the Republic of South Africa was established. A Decimal Coinage Commission had been set up in 1956 to consider a move away from the denominations of pounds, shillings, and pence, submitting its recommendation on 8 August 1958. It replaced the South African pound as legal tender, at the rate of 2 rand to 1 pound, or 10 shillings to the rand. The government introduced a mascot, Decimal Dan, " the rand-cent man" (known in Afrikaans as Dan Desimaal). This was accompanied by a radio jingle, to inform the public about the new currency.
A rand was worth US$1.40 from the time of its inception in 1961 until 1982 when mounting political pressure combined with sanctions placed against the country due to apartheid started to erode its value. The currency broke above parity with the dollar for the first time in March 1982 and continued to trade between R 1 and R 1.30 to the dollar until June 1984, when depreciation of the currency gained momentum. By February 1985, it was trading over R 2 per dollar, and in July that year, all foreign exchange trading was suspended for 3 days to try to stop the devaluation.
By the time that State President PW Botha made his Rubicon speech on 15 August 1985, it had weakened to R 2.40 per dollar. The currency recovered somewhat between 1986–88, trading near the R 2 level most of the time and even breaking beneath it sporadically. The recovery was short-lived, however, and by the end of 1989, the rand was trading at levels more than R 2.50 per dollar.
As it became clear in the early 1990s that the country was destined for black majority rule and one reform after the other was announced, uncertainty about the future of the country hastened the depreciation until the level of R 3 to the dollar was breached in November 1992. A host of local and international events influenced the currency after that, most notably the 1994 democratic election which had it weakens to over R 3.60 to the dollar, the election of Tito Mboweni as the new governor of theSouth African Reserve Bank, and the inauguration of President Thabo Mbeki in 1999 which had it quickly slide to over R 6 to the dollar. The controversial land reform program that was kicked off in Zimbabwe, followed by the September 11, 2001 attacks, propelled it to its weakest historical level of R 13.84 to the dollar in December 2001.
This sudden depreciation in 2001 led to a formal investigation, which in turn led to a dramatic recovery. By the end of 2002, the currency was trading under R 9 to the dollar again, and by the end of 2004 was trading under R 5.70 to the dollar. The currency softened somewhat in 2005 and was trading around R 6.35 to the dollar at the end of the year. At the start of 2006, however, the currency resumed its rally, and as of 19 January 2006, was trading under R 6 to the dollar again. However, during the second and third quarters of 2006 (i.e. April through September), the rand weakened significantly. In sterling terms, it fell from around 9.5p to just over 7p, losing some 25% of its international trade-weighted value in just six months. Late in 2007, the rand rallied modestly to just over 8p, only to experience a precipitous slide during the first quarter of 2008.
This downward slide could be attributed to a range of factors: South Africa's worsening current account deficit, which widened to a 36?year high of 7.3% of gross domestic product (GDP) in 2007; inflation at a five-year high of just under 9%; escalating global risk aversion as investors' concerns over the spreading impact of the subprime crisis grew; and a general flight to ""safe havens"", away from the perceived risks of emerging markets. The rand depreciation was exacerbated by the Eskom electricity crisis, which arose from the utility is unable to meet the country's rapidly growing energy demands.
By the end of 2014, the rand had weakened to R 15.05 per dollar, partly due to South Africa's consistent trade account deficit with the rest of the world. From 9 December 2015 to 13 December 2015, over a four-day period, the rand dropped over 10% due to what some suspected was President Zuma's surprise announcement that he would be replacing the then-Finance Minister Nhlanhla Nene with the little-known David van Rooyen. The rapid drop in value was stemmed when President back-tracked and announced that the better-known previous Minister of Finance, Pravin Gordhan, would instead be appointed to the post. Zuma's surprise firing of Nene damaged international confidence in the rand, with it experiencing significant exchange volatility throughout much of January 2016, reaching an all-time low of R 17.9169 to the US dollar on the 9 January 2016 before rebounding to R 16.57 later the same day.
The January drop in value was also partly caused by Japanese retail investors cutting their losses in the currency to look for higher-yield investments elsewhere and due to concerns over the impact of the economic slowdown in China, South Africa's largest export partner. By mid-January, economists were speculating that the rand could expect to see further volatility for the rest of 2016. By 29 April, it reached its highest performance over the previous 5 months, exchanging at a rate of 14.16 to the United States dollar
Following the United Kingdom's (UK) vote to leave the European Union (EU), the rand dropped in value over 8% against the United States dollar on the 24th June 2016, the currency's largest single-day decline since the 2008 crash. This was partly due to a general global financial retreat from currencies seen as risky to the US dollar and partly due to concerns over how the UK's withdrawal from the EU would impact South Africa's economy and trade relations.
Coins were introduced in 1961 in denominations of? 1?2, 1, ? 2 1?2, 5, 10, 20, and 50 cents. In 1965, 2-cent coins replaced the ? 2 1?2-cent coins. The ?1?2-cent coin was last struck for circulation in 1973. The 2-rand coin was introduced in 1989, followed by 5-rand coins in 1994. Production of the 1- and 2-cent coins were discontinued in 2002, primarily due to inflation having devalued them, but they remain legal tender. Shops normally round the total purchase price of goods to the nearest 5 cents (in favor of the consumer).
In an effort to curb counterfeiting, a new 5-rand coin was released in August 2004. Security features introduced on the coin include a bi-metal design (similar to the €1and €2 coins, the Thai 10-baht coin, the British £2 coin, and the Canadian $2 coin), a specially serrated security groove along the rim and micro-lettering.
The first series of rand banknotes was introduced in 1961 in denominations of 1, 2, 10, and 20 rand, with similar designs and colors to the preceding pound notes to ease the transition. They bore the image of what was believed at the time to be Jan van Riebeeck, the first V.O.C. administrator of Cape Town. It was later discovered that the image was not, in fact, Van Riebeeck at all. Like the last pound notes, they were printed in two variants, one with English written first and the other with Afrikaans written first. This practice was continued in the 1966 series which included the first 5-rand notes, but did not include the 20-rand denomination.
The 1978 series began with denominations of 2, 5, and 10 rand, with 20 and 50 rand introduced in 1984. This series hsd a major design change. In addition, the series has only one variant for each denomination of the note. Afrikaans was the first language on the 2, 10, and 50 rand, while English was the first language on 5 and 20 rand. The notes bore the image of Jan van Riebeeck. The 1-rand note was replaced by a coin.
In the 1990s, the notes were redesigned with images of the Big Five wildlife species; 10-, 20- and 50-rand notes were introduced in 1992, retaining the color scheme of the previous issue. Coins were introduced for 2 rand and 5 rand, replacing the notes of the previous series, mainly because of the severe wear and tear experienced with low-denomination notes in circulation. In 1994, notes were introduced for 100 and 200 rand.
The 2005 series has the same principal design, but with additional security features such as color-shifting ink on the 50-rand and higher and the EURion constellation. The obverses of all denominations are printed in English, while two other languages are printed on the reverses, thus making use of all 11 official languages of South Africa.
In 2010, the South African Reserve Bank and commercial banks withdrew all 1994 series R 200 banknotes due to relatively high-quality counterfeit notes in circulation.
In 2011, the South African Reserve Bank issued 100-rand banknotes which were defective because they lacked fluorescent printing visible under UV light. In June, printing of this denomination was moved from the South African Bank Note Company to Crane Currency’s Swedish division (Tumba Bruk), which reportedly produced 80 million 100-rand notes. The South African Reserve Bank shredded 3.6 million 100-rand banknotes printed by Crane Currency because they had the same serial numbers as a batch printed by the South African Bank Note Company. In addition, the notes printed in Sweden were not the correct color, and they were 1 mm short.
On 11 February 2012, President Jacob Zuma announced that the country would be issuing a complete set of banknotes bearing Nelson Mandela's image. They were entered into circulation on 6 November 2012.
In 2013, the 2012 series was updated with the addition of the EURion constellation to all five notes.
|National Song||"National anthem of South Africa"|
|Currency||South African rand (ZAR)|
|GDP / GDP Rank||739.42 Billion USD|
|GDP Growth Rate||1.3 Percent|
|GDP Per Captial||$13225.428 (PPP)|
UTC+02:00 (South African Standard Time) — main territory
UTC+03:00 — Prince Edward Islands
< 1.0% Buddhists
< 1.0% Jews
< 1.0% Other Religions
Black African 79%
President – Cyril Ramaphosa
|Website||Go to the web|
|Public Debt||50.467 Percent|
|Unemployment Rate||25.927 Percent|
|Labor Force (Occupation)||-|