Over the past decade the annual growth in real GDP has averaged a miserable 0.69%, and the growth in household disposable incomes has grown by an immiserating 0.46% a year on average.
By sharp contrast, the increase in the wealth of South Africans has been impressive.
Net South African wealth held offshore was substantially negative before 2014 but amounted to more than R2-trillion by 2024, a result of capital gains realised in portfolios, rather than net inflows into assets under management.
Relaxing forex controls has worked very well for South African balance sheets.
The income received from assets held abroad still lags well behind the payments of dividends and interest to…
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African economy and business landscape.
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Fun South African Fact: South Africa is the Rainbow Nation.
Mustard Centaur
Fun South African Fact: South Africa is home to the oldest meteor scar in the world – the Vredefort Dome in a town called Parys. The site is a UNESCO World Heritage Site.