SA still in the premier league

Businessmen in South Africa have much to be optimistic and positive about following the global economic meltdown of 2009 as the country is recovering well from its recession, says scenario planner Clem Sunter. “It is much better to be South Africa in Africa than Germany in Europe,” he said last week. “South Africa is finding itself in a much better position than many European countries as we move beyond 2010.” Sunter said a scenario of South Africa remaining in the premier league has been given a 60% probability due to several factors. “The banks are in a very good shape following the global economic crisis and were not affected as negatively as banks in America and Europe. Add to that the fact that the country is the gateway into Africa and is a major player in one of the fastest growing continents, and the outlook is very positive.” But, warned Sunter, there were flags to be on the lookout for that could negatively affect the country and business. “Nationalisation is something that will be very negative and is a warning sign. Indications that it will be implemented will not be favourable,” he said. Another warning sign is the pending media tribunal which the ANC wants to implement to regulate media in the country. “The third warning flag is aggressive land acquisition. Should this happen to the country, we will be in a less favourable position.”