[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
Italy struggles to deal with growing flood of migrants willing to risk their lives to reach the nearest European shores.
Israel's Operation Protective Edge is the third major offensive on the Gaza Strip in six years.
Muslims and Arabs in the US say they face discrimination in many areas of life, 13 years after the 9/11 attacks.
At one UN site alone, approximately four children below the age of five are dying each day.
Featured
The world's newest professional sport comes from an unlikely source: video games.
The group's takeover of farms in Qaraqosh, 30km from Mosul, has caused fear among residents, and a jump in food prices.
Protests and online activism in recent months have brought a resurgence of ethnic Oromo nationalism in Ethiopia.
Chemotherapy is big business, but some US doctors say it could be overused and are pushing for cheaper and better care.
Amid vote audit and horse-trading, politicians of all hues agree a compromise is needed to avoid political instability.
join our mailing list