South Africa is Africa’s largest economy and holds considerable diplomatic and political influence throughout the continent. Along with Brazil, India, China and Russia, South Africa is one of the powerful BRICS nations and is considered the “gateway” for investment in Africa. Still, its economy is facing a range of challenges, including rigidities in the labor market, high unemployment, the perception of rising corruption and, increasingly, nationalization of economic affairs. Africa Research Fellow Anne Kamau talks with Haroon Bhorat, director of the Development Policy Research Unit at the University of Cape Town, about U.S.-South African relations, the South African economy, and the trends that will shape the future of Africa’s largest economy.
“This is the way the world thinks about innovation; they don’t think about countries or states or metropolitan areas, or even cities, they think about districts,” he said. “You have that now, and you need to play it out.” [Report release event: Capturing the next economy: Pittsburgh’s rise as a global innovation city]
Bruce Katz of Brookings said Oakland, with the University of Pittsburgh and Carnegie Mellon University, could become a “playground of innovation” through a partnership recommended in the report. The InnovatePGH partnership would feature collaboration between the city, universities, entrepreneurs and corporations to nurture high-tech business. [Report release event: Capturing the next economy: Pittsburgh’s rise as a global innovation city]