Event: South Africa Economist Summit

International corporations have traditionally thought of South Africa as the most obvious place to set up shop on the African continent. In addition to being Africa’s largest economy and the only African member of the G20, the country has a reputation for developed infrastructure, quality of life, ease of doing business and relative political stability.

Yet the reality is that South Africa faces a crisis serious enough to derail the country’s position as the destination of choice for inward investment. Industrial action has reached an intensity not seen for decades, with worsening distribution of income and persistently high unemployment fuelling discontent. An already high cost of doing business is set to increase further due to high real wages, rising energy prices and lack of competition in key industries. Other Sub-Saharan African countries are emerging as credible international business centres. President Jacob Zuma has a fight on his hands to unite the various factions of his administration and implement the reforms needed to deliver the business-friendly, broad-based economic growth South Africa needs to retain a competitive edge.

The South Africa Summit will bring key government ministers together with CEOs and investors to tackle these tough challenges head on, in a day of frank debate and critical analysis of the country’s future prospects and the government’s efforts to improve the climate for doing business.