NO LONGER THE GATEWAY TO THE CONTINENT
JOHANNESBURG, (Mar. 29, 2012) IPS/GIN – South Africa’s membership of the bloc of leading emerging economies and its unique position in Africa heralded the country’s role as a gateway into the African continent. However, trade experts question whether it can live up to this position as investors begin to increasingly look towards other African markets.
In 2003 South Africa became part of the IBSA grouping (India, Brazil and South Africa), and seven years later it joined the bloc of countries now known as BRICS (Brazil, Russia, India, China and South Africa). Economists have predicted that the dynamic growth of the BRICS countries will bring about a shift in economic power toward the developing world.
And South Africa, as the most developed country in Africa, offers the infrastructure and services to unlock the region’s frontiers, they say. Read the rest of this entry →