Trends and growth
Three-quarters of adult South Africans have bank accounts, and women generally have equal
access to formal financial services. Several mobile money payment systems, initiatives to
digitise government transfers, and an extensive banking infrastructure all support financial
The government of the Western Cape has plans to establish a R1-billion halaal agri-processing
food park to capitalise on the multitrillion-dollar global halaal market. The park will be a cluster
of manufacturing and service firms in the halaal industry.
The number of cellphones in South Africa has soared by over 800% in the past decade or so,
according a new report. And while internet connectivity speeds are ponderously slow and very
expensive, this has not stopped South Africans from using their phones to connect to the web.
Construction on the Gibela industrial complex in Gauteng is to begin later this year, says the rail
transport consortium. Once fully operational, it will produce 62 trains a year. Local suppliers are
crucial, and the facility will help to spark industrial growth in the region.
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