The most developed, broadly based economy on the African continent is in South Africa. It has established institutions, a sovereign court, a robust legal system, a developed financial industry, ample infrastructure, and knowledgeable native partners. South Africa is well endowed with natural resources such as gold, uranium, coal, iron ore, platinum, nickel, chromium and manganese (Fine & Rustomjee, 2018). The multinational corporations, notably those in the gas and oil industry, are providing significant revenues to the country. South Africa possesses a topnotch manufacturing base, innovations, research and development capabilities, and world class infrastructure. In addition, it is at the forefront of creating and implementing new green industries and technology, minimizing the environmental impact while also creating new, sustainable jobs. South Africa is home to several international business process outsourcing (BPO) businesses and has developed banking, legal, and telecommunications sectors.
Numerous diverse minerals are plentiful in South Africa. The country has reserves of Uranium, iron ore, silver, platinum, titanium, manganese, copper, chromium, beryllium, in addition to gold and diamond. Even though mining focused holding firms participate in other sectors of the economy, the mining sector remains the pillar of the South African economy (Claar & Brian, 2018). This is because South Africa is the most significant producer of gold globally, and its reserves are substantial. Gold is still the most crucial resource. South Africa’s economy is susceptible to global changes because it relies on foreign trade. The main exports have been precious and primary metals, but agricultural products and military hardware are also significant. Chemicals, chemical-related products, and automobiles are the main imports into the nation.