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South Africa Report

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Submitted By rrose
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HISTORY
South Africa is the southernmost country on the African continent. It has a long history of conflict and human rights issues but it has always been one of the most economically prosperous nations in southern Africa due to its coastal location and the presence of gold, diamonds and natural resources.
By the 14th century C.E, the region was settled by the Bantu people who migrated from central Africa. South Africa was first inhabited by Europeans in 1488 when the Portuguese arrived at the Cape of Good Hope. However, permanent settlement did occur until 1652 when the Dutch
In following years, French, Dutch and German settlers began to arrive in the region. by the end of the 18th century the British controlled the entire Cape of Good Hope region.
In 1961, South Africa became a republic after it withdrew from the British Commonwealth
Four years later on May 10, 1994, Mandela was elected as South Africa's first black president and during his time in office he was committed to reforming race-relations in the country and strengthening its economy and place in the world. This has remained the goal of subsequent governmental leaders.

ECONOMY

South Africa has a mixed economy, the largest in Africa in terms of both nominal GDP (at $375.944 billion) and GDP atpurchasing power parity (at $608.804 billion). It also has a relatively high GDP per capita compared to other countries in Sub-Saharan Africa ($11,750 at PPP as of 2012). Despite this, South Africa is still burdened by a relatively high rate of poverty and unemployment, and is also ranked in the top 10 countries in the world for income inequality.
ECONOMIC OUTLOOK
After slowing to 2.5 percent in 2012, South African economic growth continued to underperform in the second half of 2013.
Real growth in Gross Domestic Product (GDP) moderated to an annualised rate of 0.7 percent quarter-on-quarter (q/q) in

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