South Africa slump stymies small business

High unemployment and rising commodity prices mean tough times for local business and shopkeepers.

    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


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