More and more do we hear rumblings in the news as well as our everyday interaction about our fellow Africans discontent with us South Africans. I did some reading on the matter, there appears to be quite a wide variety of perceptions about South Africa from our fellow continentals. This made me wonder, how do we compare financially with our African counterparts?
We are no longer the powerhouse of the African continent in terms of GDP. Nigeria is first, then Egypt and we are now third, we are followed by Algeria, Angola, and Morocco. These are the six biggest economies in Africa currently.
When we compare the growth rates of the countries we rank fifth with only Nigeria marginally behind us. When we compare GDP per capita we top the list.
Another key measure is unemployment. South Africa has the highest unemployment rate, 26.7%, of the six countries with Morocco having the lowest, 10%.
The last statistic is the interest rate of the country. South Africa has the 4th lowest rate of the countries. Angola has the highest and Morocco the lowest.
From the data is evident that South Africa has an ever waning influence on the continent. The decline of our power, or at least the perception of a decline, could have negative consequences for us. Negative perception combined with a lack of influence could potentially lead to a decline in African trade with us as well as global players rather looking to larger more influential roleplayers to partner with.
For a complete overview of the data read more here