Handelskammer - Land Infoblatt Letztes Update: 28.02.2018
Ihre Berater bei der Handelskammer
- Thomas Bertrand+352423939337
- Steven Koener+352423939379
Dutch traders landed at the southern tip of modern day South Africa in 1652 and established a stopover point on the spice route between the Netherlands and the Far East, founding the city of Cape Town. After the British seized the Cape of Good Hope area in 1806, many of the Dutch settlers (Afrikaners, called "Boers" (farmers) by the British) trekked north to found their own republics, Transvaal and Orange Free State. The discovery of diamonds (1867) and gold (1886) spurred wealth and immigration and intensified the subjugation of the native inhabitants. The Afrikaners resisted British encroachments but were defeated in the Second South African War (1899-1902); however, the British and the Afrikaners, ruled together beginning in 1910 under the Union of South Africa, which became a republic in 1961 after a whites-only referendum. In 1948, the Afrikaner-dominated National Party was voted into power and instituted a policy of apartheid - the separate development of the races - which favored the white minority at the expense of the black majority. The African National Congress (ANC) led the opposition to apartheid and many top ANC leaders, such as Nelson MANDELA, spent decades in South Africa's prisons. Internal protests and insurgency, as well as boycotts by some Western nations and institutions, led to the regime's eventual willingness to negotiate a peaceful transition to majority rule.
The first multi-racial elections in 1994 following the end of apartheid ushered in majority rule under an ANC-led government. South Africa has since struggled to address apartheid-era imbalances in decent housing, education, and health care. ANC infighting came to a head in 2008 when President Thabo MBEKI was recalled by Parliament, and Deputy President Kgalema MOTLANTHE, succeeded him as interim president. Jacob ZUMA became president after the ANC won general elections in 2009; he was reelected in 2014. His government has been plagued by numerous scandals, leading to gains by opposition parties at the municipal level in 2016.
Economic growth is projected to pick up moderately in 2018-19, as stronger activity in trading partners boosts exports. Investment will support growth in 2019 on the assumption that business confidence increases and policy uncertainty fades. Despite persistently high unemployment, private consumption will expand as wages increase moderately and food prices stabilise. Falling inflation leaves room for a moderately expansionary monetary policy to support activity. Unexpected slippage of the budget deficit is contributing to growth in the short term, but is also creating more pressure to contain rising public debt and is raising the risk of a further credit downgrade. Improving the efficiency of public spending and better controlling the deficits of state-owned enterprises are necessary to raise fiscal credibility and create room for public investment to foster growth and reduce social inequality. The high dependence on external financing is the main source of financial vulnerability. Low investor confidence and credit rating downgrades in 2017 have contributed to a net outflow of foreign investment. To cushion the transmission of external shocks to the financial system, implementation of the financial sector regulatory reform should be accelerated and foreign-currency-denominated debt issued by private entities further monitored.
Source: OECD - Economic Forecast
Luxemburg und das Land
Existing conventions and agreements
Non double taxation agreement
In order to promote international economic and financial relations in the interest of the Grand Duchy of Luxembourg, the Luxembourg government negotiates bilateral agreements for the avoidance of double taxation and prevent fiscal evasion with respect to Taxes on Income and on fortune with third countries.
- Convention from 23.11.1998 (Memorial 2000, A, no. 87, p. 2044)
- Effective as of 08.09.2000 (Memorial 2000, A, no. 141, p. 3295)
Air Services agreement
- Agreement from 17.2.1994 (Memorial 1995, A, p. 1646)
- Effective as of 06.12.1995 (Memorial 1995, A, p. 2566)
The Statec Foreign Trade statistics provide information on the trade of goods - by product and by country. This information is collected respectively through the INTRASTAT declaration and on the basis of customs documents.
You can see the statistics on the website of the Statec.
Contact point in South Africa
Luxembourg is represented by the Royal Embassy of the Netherlands situated in Pretoria.
Economic and Commercial Attaché (AWEX):
8 th floor, Fredman Towers, 13
cnr Fredman & Bute Lane
Tel: +27 11 884 55 81
Fax: +27 11 884 17 71
Country risk as defined by Office du Ducroire for South Africa
Ducroire is the only credit insurer covering open account deals in over 200 countries. A rating on a scale from 1 to 7 shows the intensity of the political risk. Category 1 comprises countries with the lowest political risk and category 7 countries with the highest. Macroeconomics experts also assess the repayment climate for all buyers in a country.
Other Useful Links
- CIA World factbook on South Africa
- South African Chamber of Commerce
- Invest in South Africa
- Investment Climate Statement - South Africa 2015
- Présentation de l'Afrique du Sud
- World Bank Open Data - South Africa
- GDP evolution in South Africa
- Deloitte: Guide to Fiscal Information - Key Economies in Africa 2014/15
- Economic Freedom Index - South Africa
- Das ist Südafrika
Die Handelskammer und das Land
- 06.05.2015 - 08.05.2015
- 24.06.2013 - 29.06.2013