Rainbow at Risk Improving South Africa's Prospects
Over many generations, South Africa has proved its resilience and the country should bar unforeseen events, also weather the turbulent years ahead. Its long-term growth prospects remain positive and, with the right confluence of leadership and a facilitating global growth environment, prospects could change for the better, and more rapidly than most expect. An inclusive economy needs to be build in South Africa, where broad-based economic growth creates productive jobs for the unemployed; increases productivity and earnings for the employed; and leads to sustained poverty alleviation. South Africa must simultaneously invest in partnerships with the private sector to establish a knowledge economy, close the skills gap currently constraining development and create an enabling environment for growth, investment and innovation. Drawing on two associated ISS papers, economics, governance and instability in South Africa and South African scenarios 2024, this policy brief presents a set of recommendations to extricate South Africa from its middle-income trap and set it on a high-road Mandela Magic growth path.