GLOBAL COMPETITIVENESS – SA STILL HIGHEST RANKED IN SUB-SAHARAN AFRICA

The World Economic Forum’s recently released Global Competitiveness Report 2009-2010 has confirmed that South Africa, ranked 45th overall, is still the highest ranked country in sub-Saharan Africa.

Notably, South Africa has performed very well in areas that measure the quality of institutions, especially with regards to factors such as the protection of intellectual property and the accountability of private institutions.  The evaluation of South Africa’s financial markets in particular have shown a noticeable improved ranking – from 24th in 2008 to 5th this year – proof that the controls that are in place have indeed been efficient in cushioning our country against the impact of the global financial crisis.

The report has also singled out South Africa’s good scientific research institutions as contributing to a competitive advantage, together with the “strong collaboration between universities and the business sector” in terms of innovation.

Labour market efficiency in terms of which South Africa was ranked 90th, labour-employer relations, the country’s relatively low university enrollment rate, and the health of the country’s workforce were amongst the issues indicated as areas for improvement that would enhance our overall competitiveness as a nation. 

Proudly South African thank you to all member companies who are making a noteworthy contribution in these areas.