[QODLink]
Africa
South Africa slump stymies small business
High unemployment and rising commodity prices mean tough times for local business and shopkeepers.
Last Modified: 26 May 2012 15:34

South Africa is an emerging economy that has so far managed to withstand the financial crisis that has gripped most of the developed world.

Even so, high unemployment and rising commodity prices are a growing problem for the country.

Although big businesses are mostly well established in South Africa, times are tough for small stores and independent entrepreneurs.

The International Monetary Fund recently predicted just 2.7 per cent growth in South Africa's economy this year, and three ratings agencies have downgraded its economic outlook from "stable" to "negative".

Al Jazeera's Tania Page reports from Cape Town, South Africa.

Source:
Al Jazeera
Topics in this article
People
Country
City
Organisation
Featured on Al Jazeera
More than one-quarter of Gaza's population has been displaced, causing a humanitarian crisis.
Ministers and MPs caught on camera sleeping through important speeches have sparked criticism that they are not working.
Muslim charities claim discrimination after major UK banks began closing their accounts.
Italy struggles to deal with growing flood of migrants willing to risk their lives to reach the nearest European shores.
Featured
Students kept from using screen-based technology for five days showed improvement in recognizing emotion, US study says.
Frustration grows in Kiev as pledges to end corruption and abuse of power stagnate after Maidan Square protest.
Thousands of Houthi supporters have called for the fall of Yemen's government. But what do the Houthis really want?
New ration reductions and movement restrictions have refugees from Myanmar anxious about their future in Thailand.
US lawyers say poor translations of election materials disenfranchise Native voters.
join our mailing list