Overview of the South African Economy
South Africa is a country located in the Southern tip of Africa. The country is the 25th largest in the world by area the 24th largest by population with 51 a population of million, (Central Intelligence Agency-CIA, 2013). It is Africa’s most prosperous economy and the World Bank ranks it as an upper-middle class income economy. Lately, various global economy agencies such as the Organisation for Economic Co-operation and Development (OECD) and the World Bank consider South Africa as a newly industrialised country (CIA, 2013). The country is now part of a team of countries that form BRIC (Brazil, Russia, India, and ...
