Africa’s economic position is set to advance in the coming years as African economies are growing at a rate higher than the global average. South Africa is the 34th largest export economy in the world and the 47th most complex economy. South Africa is the second largest economy in Africa, and enjoys relative macroeconomic stability and a largely pro-business environment, making it an attractive option for Virginia companies seeking to enter the Sub-Saharan Africa marketplace. Tanzania’s economic performance showcases a high rate of growth and a low rate of inflation over the past five years.
Africa’s growing manufacturing industry leaves ample room for investment and key partnerships. Africa is in the process of becoming the world’s next great manufacturing center and African businesses and governments have recognized that manufacturing offers the perfect opportunity to create the next wave of economic growth. There is great potential for expansion in Africa’s manufacturing sector, as it is expected that Africa will capture part of the 100 million labor-intensive manufacturing jobs said to leave China by 2030.
This report examines the Manufacturing industry in South Africa and Tanzania, as well as market opportunities and key players.