Princedapace:


They don't know how robust SA is.

Powerful, SA is too strong. Pound for pound, no country can compete with SA in the whole of africa.

Dasuks:


SA is home to industrial concerns and premier service sector firms that are owned by locals. Well they've been connected to the globalized economy for longer and have developed actual companies that make things. Actual companies that dont need govt patronage to survive in the long term.... look around Lag Abj and PH there's a lot around as well.

You have raw materials, midstream processing firms and large scale down stream operations of all sorts. Retail is strong. Tourism is strong. Agric is advanced.Tech (including defense industry) is strong and the financial services sector there is home to every kind of institution from I-Banks to retail to PE to VCs etc. They get to benefit from every ones wealth as well thru finance.JSE is Africa's largest exchange.

Take for e.g Naspers, Africa's biggest firm by market cap. They have diverse interests and actually derive their wealth chiefly from their China based investments in tencent and the rest. Again the point of being more globalized.

Then again, it's most the European populations that hold this wealth.

You were almost correct until you said its the mostly european population that hold this wealth. Many people dont understand how sophisticated South african economic is. The reason you dont find the dangote in south africa is because south african economy is owned by pension money. Even the naspers you are refering too, majority shares are owned by PIC, which is a government workers pension money. Check who works at the government, 95% of government workers are blacks. Even MTN that most nigerians think its owned by whites, PIC is majority shareholders.

https://mybroadband.co.za/news/business/310439-pic-encourages-state-pension-fund-to-sell-naspers-shares.html

https://m.fin24.com/Companies/ICT/pic-forced-board-shakeup-at-mtn-in-push-for-fewer-disputes-20190604

Guys, please do research on this things before making fools of yourself.

madjune:
So South Africa get money pass Nigeria?

Why blame folks that are there hustling and dying?

Maybe this link may help people to make-up their minds. Follow this link, all will be clear to you all.

https://moshekafrica.com/forbes-list-of-10-largest-companies-in-africa-2019/

14:


You were almost correct until you said its the mostly european population that hold this wealth. Many people dont understand how sophisticated South african economic is. The reason you dont find the dangote in south africa is because south african economy is owned by pension money. Even the naspers you are refering too, majority shares are owned by PIC, which is a government workers pension money. Check who works at the government, 95% of government workers are blacks. Even MTN that most nigerians think its owned by whites, PIC is majority shareholders.

https://mybroadband.co.za/news/business/310439-pic-encourages-state-pension-fund-to-sell-naspers-shares.html

https://m.fin24.com/Companies/ICT/pic-forced-board-shakeup-at-mtn-in-push-for-fewer-disputes-20190604

Guys, please do research on this things before making fools of yourself.

Making a fool of myself indeed. Most forms of capital from shares on the JSE to the cottage export industries, mines and agric in SA are in the control of white SAs. On the level of personal wealth there is no comparison.

For example the SA Institute of poverty land and agrarian studies still reports white control of over 70% of land. And less than 10 percent of that has been redistributed over the past 25 years.

The GEPF is an institutional investor.and owns somewhere about 20 or so percent of naspers. PIC is the public asset manager not the direct owner of the equity. Hence the advisory role to the GEPF. U shld know that....

How does that change the private wealth holdings equation? Nobody is saying that SA is faring worse than any African nation. It is at about 7k usd per capita. And trends somewhere above the 12k mark on a ppp basis( technically almost fully developed) . Reticence to call it developed is motly due to the persisting poverty amongst certain sectors of the populace. If not they are good to go.

However general sustenance is not what HNWI studies are looking at. Who are the decision makers at the largest firms. Who mans the seat in finance, mining, IT, defence manufacturing, tourism devt etc. This keys into equity of shares of the biggest firms, physical capital, real estate( incl land) and going manufacturing and service concerns. Again how do the individualized dividend payments from institutional investing compare to individualized multi-million dollar earnings of the white business elite?? Yes there are blacks in the fray but what is their representation compared to their 70% plus population size. Are they over or under represented should be what u shld be asking....

The key decision makers in naspers are still of European descent. How many individual blacks are as wealthy as Koos Bekker or made as much from him in naspers dealings ?? On a per capita basis u would tell me that the wealth creation across banking mining security services or luxury industries by Afrikaans and English whites is same as the dividend payment derived contributions toward pension schemes ? Naspers is a glaring example. What blacks have made similar gains to Van Dijk Bekker etc. I dont understand ....

That being said. SA is a more robust varied economy than Nigeria. Hence 23000 millionaires in Joburg 9000 in Cape Town and another 9 in Durban. U get a sense of the scope of wealth creation when looking at those figures.

U need to do more research and I'll advise u just like PIC does to GEPF to pick up elite transition by Patrick Bond to deflate ur neoliberal fantasy and look at the country more critically from the POV of the have-nots and the ANC compromise. Start from there.

14:


Powerful, SA is too strong. Pound for pound, no country can compete with SA in the whole of africa.

SA wey her cities Dey compete with some European cities and win sef. SA is in another level in Africa o.

in ELECTRCITY PRODUCTION SA IS RANKED 21ST IN THE WORLD, while ngr is 70th in the WORLD