South Africa is the largest, most diversified economy in Africa. It is also the most technologically advanced on the continent. Situated in Southern Africa, the country is known for its cultural diversity and has been inhabited by modern humans for at least 170,000 years. Afrikaans, Zulu, and Xhosa are the most widely spoken languages in the country.
South Africa is the only country in the world with three capital cities. Pretoria is the administrative capital, Cape Town is the seat of Parliament, and Bloemfontein is the judicial capital. The most populous city is Johannesburg, also known as ‘The City of Gold’, which is the economic centre of the nation and home to the continent’s largest stock exchange. Face-to-face market research mostly takes place in Johanessburg and Cape Town.
The majority of South Africa’s economy (63%) is based around services such as finance, real estate, business services as well as general government administration. 64% of the nation’s workforce is employed by various business services. Industry accounts for 25%, a figure showing continuous growth.
Manufacturing (including electric vehicles and other automobiles, petrochemicals, and raw metals) and mining (of platinum, chromium, manganese, gold and iron ore) are both experiencing a period of growth. South Africa’s mining industry in particular is benefiting from strong demand from Asian markets such as China, and recent increases in the price of precious metals driven by global uncertainties.