Coface projections on SA, Africa and the global economy will have to be tested
By Thandisizwe Mgudlwa
Africa is best positioned to provide a thriving business environment, a leading International credit insurer attests.
Coface has projected that by 2016, South African exports into Africa will increase significantly but will be offset by an equivalent drop in trade with Europe.
The group also says that the will also be an increase in trade with Asia but trade with the US will remain at the current levels.
And Garth de Klerk, CEO of Coface South Africa, says: "China will play an important role in SA’s economic future. Currently, 13% of total SA’s exports are to China. They consume 65% of all primary aluminum produced in SA and 70% of all iron ore mined in SA.
Notably, China’s biggest export markets in 2011 was the EU at $356-billion followed by the US at...