Question

what are the strengths of south Africa and Nigeria?

Answer 1

While much of the world staggered in the wake of the global financial meltdown towards the end of the first decade of the new millennium, South Africa managed to stay on its feet – largely as a result of its prudent fiscal and monetary policies.
The country is politically stable and has a well capitalised banking system, abundant natural resources, well developed regulatory systems as well as research and development capabilities, and an established manufacturing base.
Ranked by the World Bank as an “upper middle-income country”, South Africa is the second largest economy in Africa after Nigeria. In 2014, the World Bank listed its GDP at $350.1-billion (R5.416-trillion) and its population at 54 million. Per capita GDP is $6 483, according to the World Economic Forum.
The country remains rich with promise. It was admitted to the BRIC group of countries of Brazil, Russia, India and China (now known as BRICS) in 2011.
With a world-class and progressive legal framework, South African legislation governing commerce, labour and maritime issues is particularly strong, and laws on competition policy, copyright, patents, trademarks and disputes conform to international norms and standards. The country's modern infrastructure supports the efficient distribution of goods throughout the southern African region.
The economy has a marked duality, with a sophisticated financial and industrial economy having grown alongside an underdeveloped informal economy. It is this “second economy” which presents both potential and a developmental challenge.