CONTINENTAL SHIFT - Since the end of apartheid South Africa has become a world economic powerhouse. Multinational investors are back. Africa's largest economy has been protected from the worst effects of the global recession by stringent banking regulations and exchange controls.
SOUTH AFRICA ADJUSTING WELL TO GLOBAL RECESSION - South Africa’s economy is adjusting to the global recession “quite well,” while political risk has eased because of a “smooth” transfer of power to President Jacob Zuma.
MOODY'S RAISES SOUTH AFRICAN FOREING CURRENCY RATING - South Africa’s foreign currency rating was upgraded by one notch to A3 by Moody’s Investors Service which cited the country’s buildup in foreign currency reserves and well managed government debt.
RAND STRENGHTENS TO 10-MONTH HIGH ON ECONOMY, YIELD ADVANTAGE - The rand rallied to a 10-month high against the dollar after South Africa posted an unexpected trade surplus and better-than-forecast economic data in Europe and Asia boosted demand for higher-yielding assets.
MANUEL SEES SOUTH AFRICAN ECONOMY IMPROVING THIS YEAR - South Africa’s economic situation will improve in the “latter part of this year,” said former finance minister Trevor Manuel, who now heads a planning commission within the presidency.
AFRICA'S TOURISM MARKET GETS READY TO ROCKET - Africa is one of the fastest-growing tourism markets in the world, with huge potential for growth, according to speakers at an international conference on investment in hotels.
SOUTH AFRICA SEES TOURISM GOLD IN WORLD CUP - South African tourism operators are seeing marketing gold in the 2010 World Cup, a chance to sell the country as a destination to foreign travellers long after the games are over.
WHAT'S NEXT 2009: AFRICA, BUSINESS DESTINATION - The IMF puts Africa's average annual growth for 2004 to 2008 at more than 6% - better than any developed economy - and predicts the continent will buck the global recessionary trend to grow nearly 3.3% this year.
