South africa - Open For Business

South Africa is one of the most sophisticated and promising markets in Africa, offering a unique combination of highly developed economic infrastructure coupled with a vibrant emerging market economy. Ranked among the top 30 countries in the world for ease of doing business and an above average industrial production growth, South Africa is ideally positioned for local and international companies to set-up or expand their existing business network.

Currently, SA enjoys hallmarks of great progress in its ambition to be the powerhouse of Africa, characterized by:

• A stable currency (the SA Rand has more than doubled in value against the U.S dollar since Dec 2001) and strong financial leadership.
• Declining inflation – 4.3% places SA in a favourable position for trading partners.
• The lowest prime interest rates in 24 years.
• GDP growth set to expand at 4.5% in 2005 compared to 2.5% & 3% in 2003-04.
• An agreed transformation process in the sharing of wealth and natural resources with other racial groups which is having the effect of creating expanding black coloured and Indian middle class entrepreneurship.
• Steady but slow reduction in unemployment and poverty.
• A Stable and transparent government.
• A Presidency seen as a broker of peace in Africa.
• Current Chairmanship of the African Union (AU).
• The world's greatest share of metal and mineral reserves.
• A current boom in residential property values (32% in 2004).
• A current boom on the Johannesburg Stock Exchange (All Share index at a record all time high).

DURBAN - THE HOST CITY

Durban - Africa's leading conference destination - is a vibrant city where a blend of local cultures - African, Asian and European - is reflected in a mosaic of architectural styles, a melting pot of traditions and colourful cuisine. ts privileged location on the Eastern seaboard makes it South Africa's only destination offering warm winters and tropical summers -320 sunny days a year.

Durban, South Africa's second largest industrial area & strategically supported by the city's sophisticated transport (road, rail and air) and communication infrastructure it is an obvious choice for conference planners, tourists and sports enthusiasts, because this is the city that sizzles and where the sun never sets.

Handling more than 5000 commercial vessels per year, the Port of Durban is the biggest (and busiest) in Africa. Two thirds of the country's container trade is shipped to or from the Durban harbour, providing employment for 100,000 people

Source: www.icc.co.za