Interesting TOP Performing Sectors in South Africa with positive steady growth.
It’s hard to believe in such trying & testing times that there are positive business opportunities in South Africa. Having a quick look at the top performing industries can help in making tricky investment decisions, Fortunately, South Africa's economy will accommodate anyone wishing to invest regardless of the amount
Finance & banking sector
The South African Reserve Bank manages the banking services industry while the Financial Service Board oversees the non-banking financial services industry. The recent years have seen transformations in the finance and banking sector attract many foreign banks and financial institutions into South Africa's market. We have quickly adopted mobile Electronic Fund Transfer methods (EFTs) like mobile banking and digital wallet payments (e-wallets), online banking through mobile apps, and more modern banking technologies are at the forefront of developments
Communications and information technology industry
SA is a hub and a supply base of ICT systems & services to surrounding countries. International ICT corporates Systems Application Protocol (SAP), IBM, Microsoft, Dell, Intel, Unisys, Novell, and Compaq have subsidiaries in South Africa. SA demands internet connection (fibre optic cables), security systems, mobile software field, and electronic banking systems more than any other country on the continent. SA has the 4th largest smartphone market in the world. We also exports solar cells, cell phone hardware, integrated circuits, cell phone development, processing of silicon for fibre optics. The SA government runs programs and agencies that offer extensive skills development in Robotics, Artificial Intelligence, Coding, Cloud computing, and Networking to millions of local young people.
Transport & logistics
The government invests in new and extensive transport infrastructures to promote economic growth. Transnet, an SEO is the biggest logistics company in SA. The company's branches offer services like rail transport, port authority, road transport, liquid petroleum and container shipments. There are hundreds of local logistics companies in South Africa, even though SAA and Transnet dominate the market, there is still enough room for more investors as this sector thrives
The mining industry
Africa as a whole has 30% of the world's natural reserves, and in SA is said to have the largest percentage. We are also at the worlds forefront for producing of platinum and gold, the fourth producer of diamonds worldwide, and the home to the best quality base metals and with the auto industry moving towards development of electric vehicles; this leaves our mining sector in a healthy position with a demand in battery like metals such as cobalt, copper, Lithium vanadium, Lead & Nickel which will eventually increase
Agriculture & agro-processing
Agriculture contributes hugely to SA’s gross domestic product because of the growing population & the increase & demand for food. According to Stats SA they show that agriculture was the only sector that experienced a positive growth in the last quarter of 2020 compared to its previous quarter's performance
Pharmaceuticals and healthcare sector
With an increase in critical illness & disease, SA has the the largest pharmaceutical market in Sub-Saharan Africa. If the governments National Health Insurance plan actualizes, demand for generic pharmaceutical drugs and improved healthcare infrastructure will certainly rise. More pharmaceutical companies producing generic drugs will invest in the country because 85% of SA’s population depends on State / Public health. Everybody would benefit from generic based medicines at discounted rates .
SA’s insurance sector has grown steadily over the years with more people obtaining insurance policies as they understand the importance of this & the cover it offers, the Short term insurance sector alone is worth billions according to the Oxford Business Group's reports & they also indicate that these types of policies attract low-income earners and along with the younger generation and these individuals form part of the largest percentage of SA's population. According to the South Africa Insurance Association (SAIA) who disclosed that 35% of motor vehicles in the country have short-term insurance.
Real estate sector
South Africa has experienced a steady incline in the population from increasing birth rates and a rise in immigration from neighbouring countries which is causing a shortage of property in SA. South Africa is a top tourist destination & always has been however in recent times obviously this has been affected by the covid 19 Pandemic, generally there is a high demand for holiday homes, holiday resorts and hotels, don’t forget businesses also need offices. Real Estate has always been healthy along with the trade off on the construction sector & predictions have been made to see this sector continue growing & bringing in good margins. There are also good tax breaks for renovation projects and currently a lot of people benefitting from the “buyers’ market environment”
The automotive industry made 6.4% of South Africa's GDP in 2019. The industry includes manufacturing, distribution, servicing, and maintenance of motor vehicles and components. Lots of prospects constantly with international trade & relationships between the key world automotive industry like Japan / Germany & china
Fashion and beauty sector
The fashion and beauty industry is certainly a strong contributing player in the economy & heavily overlooked by most. The cosmetics sector alone makes R25 billion at retail level and more than R5 billion on the manufacturing level. The industry has a good balance of multinational firms and local brands established by independent entrepreneurs. Original pioneers in fashion & beauty preserved its secrets for many years. The massive growth of fashion and beauty through social media offerings like YouTube channel, other independent influencers has kept a continued steady growth of this sector for South Africans. Funny enough it is one of the least expensive sectors to invest in, especially when you focus on selling cosmetics produced from natural ingredients.
LIVE YOUR BRAND. LEAVE A LEGACY!
Employer’s and recruiters always look for red flags, so you need to make sure your “brand“ is acceptable.
Typing is not a must anymore
Typing used to be one of the main things focused on in your CV before. Now, you have to know how to type just to have a CV. What matters is how prepared you are for an application. Access to the company that may be hiring you is easily accessible now, so do your research, as a result, expectations are much higher. To stand out you need to customise your CV and cover letter for the position you want. It’s better to send off targeted applications, then just send your CV for any position.