South Africa is one of the most emerging markets in the World: Mr. Malose Mogale, Acting High Commissioner, South African High Commission

The Federation of Andhra Pradesh Chambers of Commerce and Industry (FAPCCI) and The South African High Commission jointly organized a meeting with High Level Delegation of South African High Commission on August 27, 2013 at Federation House, Red Hills, Hyderabad. Mr. Malose Mogale, Acting High Commissioner, South African High Commission was the chief guest for this occasion. 

Mr. Srinivas Ayyadevara, President, FAPCCI, Mr. Pule Malefane - Consul General - SA Consulate (Mumbai), Mr. Stefanus Botes - Minister Counsellor (Economic), Mr David Wiid, Consul Political, Mr. Ravi Issar, Advisor (Trade & Investment) South African Consulate General, Mr. Rajan Kumar, Business Advisor, South African Consulate General, Mr. Shiv Kumar Rungta, Senior Vice President, FAPCCI, Mr. Akhilesh Mahurkar, Director, FICCI Andhra Pradesh State Council, Mr. Shyam Sunder Pasari, Chairman, International Trade Relations, FAPCCI and Mrs. Vydehi P, Secretary (I/c), FAPCCI has addressed at the meeting. 

Mr. Malose Mogale stated that the South Africa is one of the most sophisticated and promising emerging markets, offering a unique combination of highly developed first world economic infrastructure with a vibrant emerging market economy. South Africa is one of the world’s 26 industrialised nations & 27th largest economy. The country is also regarded as the gateway to Africa. South Africa has the largest economy on the African continent, accounting for approximately 25% of the continent’s GDP. According to the World Bank, South Africa ranked 35th out of 183 in the world for the ease of doing business in 2012. The JSE Securities Exchange is Africa’s largest and most developed Securities Exchange and one of the world’s top 20 exchanges.

South Africa remains the world’s top producer of minerals such as gold, platinum, rhodium, chrome, manganese and vanadium. South Africa holds 80% of global manganese reserves, 72% of chrome, 88% of platinum-group metals (PGMs), 40% of gold and 27% of vanadium. South Africa is ranked #1 for the regulation of securities exchange, strength of auditing & reporting standards by WEF’s Global Competitiveness Report 2011/12. South Africa scored well in various categories according to the 2011/12 WEF’s World Competitiveness Report (138 countries ranked) with overall competitiveness SA ranked 50th in place.

Mr. Srinivas Ayyadevara said in his welcome address. Is that the State of Andhra Pradesh is one of the fastest growing economies in India and became one of the hottest investment destinations among the various investment options in the fast growing emerging economies. The State is ranked 2nd in the country in attracting investments. In a World Bank Report, Hyderabad is ranked second easily accessible city in India for doing business.