South African debt management has evolved quite substantially since the 1970s when the need to develop the debt capital market was identified. The debt level in South Africa exceeded 36% of GDP in 2012 and was projected to continue to increase moderately over the next few years as deficits continue. Besides well-established domestic market there remain imbalances in South Africa as indicated poverty, unemployment and high inequality. Therefore, South African government is recommended to devote more resources to address these imbalances respectively. There is need to continue strengthening the soundness of fiscal position through promotion of FDI policies and through capacity utilization across all key sectors of the economy.