Johannesburg Stock Exchange
For some time now, South Africa has been seen as the economic powerhouse of Africa. Its main trade organizations are WTO, SADC and SACU and the country’s GDP makes up roughly 25% of Africa’s GDP – a rather remarkable achievement. The UN classifies it as a ‘middle-income country’ with a copious supply of resources as well as a well-developed infrastructure. It has excellent financial, legal, communications, transport and energy sectors as well as a top-notch stock exchange.
The country’s modern infrastructure is able to support a good rate of import ($52.97 billion in 2005) and export ($40.91 billion in 2005) as well as distribute goods evenly across the region. In fact the country has the 24th highest GDP in the world, making it one of the fifty wealthiest countries on the globe. Unfortunately this wealth and development is not evenly spread across the country and there are pockets of prosperity and poverty everywhere. Certain key marginal areas have experienced rapid growth in recent years due to various government strategies but the country still has a long way to go to achieve its goal of halving its 26.6% unemployment rate by 2014. Whatever development takes place in the business world and the economy of South Africa, the Johannesburg Stock Exchange will remain an essential element.