Chambre de Commerce - Fiche d'information pays Dernière mise à jour: 12.08.2016
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 (the Boers) trekked north to found their own republics. The discovery of diamonds (1867) and gold (1886) spurred wealth and immigration and intensified the subjugation of the native inhabitants. The Boers resisted British encroachments but were defeated in the Second Anglo Boer War (1899-1902); however, the British and the Afrikaners, as the Boers became known, 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 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 brought an end to apartheid and ushered in majority rule under an ANC-led government. South Africa since then has 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 resigned, and Kgalema MOTLANTHE, the party's General-Secretary, succeeded him as interim president. Jacob ZUMA became president after the ANC won general elections in 2009; he was reelected in 2014.
Drought and electricity constraints slowed economic growth in 2015, and tighter financial conditions and low confidence will weaken it further in 2016. Investment will grow modestly, deterred by continuing lack of electricity and an uncertain policy environment. Growth will broaden and pick up again in 2017 once new electricity capacity comes on stream.
South Africa is experiencing a difficult monetary policy environment, with high inflation and weak growth. Inflation is partly driven by temporary factors, mainly rising food prices and the pass-through of past currency depreciation, but there are risks of second-round effects to restore margins and real wages. Monetary policy should remain ready to act to ensure that inflation expectations do not become anchored above the target band of the Reserve Bank. Fiscal policy needs to earn credibility by sticking to announced consolidation and prioritising growth-enhancing spending. The cost of fiscal consolidation would be greatly offset if long overdue structural reforms would be finally implemented.
Labour productivity has trended down since 2011. Structural reforms are needed to boost productivity and employment to raise incomes and living standards. Ensuring more market competition, in particular in network sectors, strengthening the management and investments of state-owned enterprises, encouraging the development of SMEs by reducing red tape and access barriers and improving the education system are all key measures to boost productivity and inclusion.
Source: OECD - Economic Forecast
Source: IMF Statistics - South Africa
Le Luxembourg et le pays
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
La Chambre de Commerce et le pays
- 06.05.2015 - 08.05.2015
- 24.06.2013 - 29.06.2013