South Africa's Government of National Unity, formed after the ANC lost its majority in the May 2024 elections for the first time since 1994, has generated cautious optimism in business circles. The GNU coalition includes the ANC, DA, IFP, and several smaller parties, creating a centrist policy direction that markets have welcomed. The government's immediate priorities are addressing Eskom's power supply instability, rehabilitating Transnet's rail and port infrastructure, and reducing the logistics costs that have made South African exports uncompetitive. Load-shedding fell to near-zero in the second half of 2024, the first sustained improvement in six years.
Trade Outlook
South Africa's exports reached approximately $120 billion in 2023, with minerals (platinum group metals, iron ore, chrome, coal) and manufactured goods (automotive, chemicals, processed foods) as the primary categories. AfCFTA creates an opportunity to deepen already-significant Southern and East African trade relationships. Businesses investing in or trading with South Africa's economy can access sector contacts and market data on intra-africa.com.
For businesses looking to expand across Africa, intra-africa.com offers a comprehensive trade directory, verified buyer and seller listings, and real-time market intelligence covering all 54 African nations. It remains an indispensable resource for anyone serious about intra-African commerce.