South Africa
Republic of South Africa
12 official languages
Currency ZAR
Roman Dutch and Common law mix
SADC • SACU • AfCFTA
Diversified upper middle income economy and a regional finance and logistics hub. Reform priorities focus on energy supply, rail and ports recovery, crime prevention, and investment facilitation while deepening green transition projects and digital infrastructure.
Overview
Services and manufacturing anchor output, with autos, mining, and agro value chains linked to global markets. Logistics and power constraints are being addressed through grid buildout, private generation, and port and rail reforms. Policy remains within a 3 to 6 percent inflation target band.
Snapshot
Population
~63.0 M mid 2024
Stats SA Mid year estimates 2024
GDP current USD
$400.3 B 2024
World Bank WDI
GDP per Capita
$6,253 2024
World Bank via FRED
Inflation y over y
3.5% Jul 2025
Stats SA CPI
Policy Rate
7.00% Aug 2025
SARB MPC
Internet Use
~75.7% 2023
World Bank series
Electrification
~87.7% 2023
World Bank series
Market Note
JSE equity and deep local bonds
Exchange
Focus Sectors
Automotive and components
PGMs gold coal iron ore
Renewables and grid
Finance and business services
Agro processing
Logistics ports and rail
Digital ICT and BPO
Tourism and MICE
Health and life sciences
Education and skills
Trade
Top export partners 2023
- China~9.6%
- United States~8.8%
- Germany~7.3%
- Japan~7.0%
- United Kingdom~5.2%
WITS trade snapshot
Top export goods
Platinum group metals
Gold and diamonds
Iron ore and coal
Vehicles and parts
Top import partners 2023
- Chinalead
- Germanytop 5
- United Statestop 5
- Indiatop 5
- Saudi Arabiatop 5
WITS partner shares
Top import goods
- Refined petroleum and crudeenergy
- Vehicles and partsautos
- Electrical machineryICT and power kit
- Medicamentshealth
- Industrial machinerycapex
OEC composition
Finance and Capital Markets
Currency and policy
- CurrencySouth African Rand ZAR
- Policy rate repo7.00% effective Aug 2025
- FX regimeFree float with SARB in the market as needed
SARB releases
Markets
- ExchangeJSE equity, bonds, and derivatives
- Capital flowPipeline in green energy and transmission finance
Reuters and JSE
Regulations and Taxes
Start a business
- Reserve name and register entity — CIPC
- Register for tax and eFiling — SARS
- Open bank account and payroll
- Sector licences as required
- Incentives and permits — the dtic
CIPC and SARS and the dtic
Key taxes
- Corporate Income Tax27%
- VAT standard15%
- WHT dividends20% base subject to treaties
- WHT interest15% base
- WHT royalties15% base
PwC WWTS and SARS
Talent
Median age
~28 yrs
UN and Stats SA
Adult literacy
high 90s urban, lower rural
WB and UNESCO
Tertiary enrolment
mid 20s percent gross
World Bank UIS
Languages
English, isiZulu, isiXhosa, Afrikaans and others
Constitution Sec 6
Policy
- AfCFTAOperational for South Africa with phased rules of origin
- EnergyTransmission expansion and private generation scaling
- LogisticsPort and rail recovery with private concessions
Gov and World Bank and Reuters
Risks
- Power constraintsIntermittent load curtailment risk remains
- Logistics bottlenecksRail and port delays can affect exports
- Security and crimeCosts for businesses and supply chains
Industry and macro reports
Resources
Links open in a new tab.
Data notes
Population from Stats SA mid year 2024. GDP and GDP per capita from World Bank WDI 2024. CPI y over y from Stats SA July 2025. Repo rate from SARB MPC July 2025. Internet users 2023 from World Bank series. Electrification from World Bank series 2023. Trade partners from WITS, product mix from OEC. Tax items from PwC WWTS and SARS.