Tag: EconomicDevelopment

South African tourism is often viewed through an international lens. A foreign visitor might take a game drive in Kruger National Park or follow a wine-tasting itinerary through Stellenbosch. However, the strongest engine of the tourism economy is not the overseas visitor. It is the South African who travels domestically. These travellers often sustain businesses in townships, villages and rural economies that remain largely invisible from the mainstream tourism economy.

We have acknowledged the recent implementation of anti-dumping tariff measures on selected steel imports. The International Trade Administration Commission of South Africa (ITAC) published these measures on 20 March 2026. While we support the intention behind these measures, the organisation has also raised concerns about unintended consequences emerging within the market.

The 2026 Budget Speech, delivered by Finance Minister Enoch Godongwana in February 2026, has generally been described as a “good news” budget. At a macro level, the strides toward fiscal consolidation are notable. Additionally, the increase in VAT for Small and Medium Enterprises (SMEs) reflects a shift in revenue strategy. These developments support key socio-economic measures, including employment.

South Africa has a thriving and growing tourism market. It attracts local, regional and international tourists to our shores. Visitors come here because they want to experience something uniquely South African. They seek experiences that cannot be replicated anywhere else. Against this backdrop, hospitality emerges as a powerful catalyst for accelerating localisation.

In the next twenty-five years, Africa’s population is predicted to double in size to 2.5 billion. By 2050, one in four people on earth will be African. This raises a critical question: how can Africa accommodate and benefit from this huge demographic shift? The Invisible People frames this challenge as a defining moment for the continent.

Africa doesn’t have a capital problem. It has a collaboration problem. For decades, we have convinced ourselves that more investment is the answer. However, we have asked the wrong question. The continent’s real constraint is not money. It is the leadership discipline we have yet to master: building together across borders.

Standard Bank’s latest Township Informal Economy Report reveals that eight out of ten township traders are not registered. From our work with entrepreneurs, this reflects deeper barriers - not just administrative, but psychological and structural - that keep many businesses trapped in informality.