South Africa is the largest and furthest developed economy in Africa with considerable natural resources in mining. The country offers good framework conditions for the private sector, has a diversified industry and a heavily regulated financial sector with an independent central bank.
Due to its role in political and economic stabilisation, South Africa is for many companies a stepping stone into the African market, above all for those countries that are part of the Southern African Developing Community (SADC), whose population adds up to more than 240 million people. Mainly for European - especially German - businesses, southern Africa is an interesting albeit difficult growing market in which European quality and commitment are particularly appreciated.
After China, Germany is the second most important supplier country for South Africa with EUR 8,8 billion annually in exports and one of its most important direct investors. 600 German companies have offices here, employing about 100,000 workers in the key sectors of basic industries, chemical industries and mechanical engineering.
For KfW IPEX-Bank, Sub-Saharan Africa is an important future market in which we support our customers in financing European exports and German direct investments. The mandate of KfW IPEX-Bank also comprises the support of projects to secure raw materials supply to Germany.
KfW IPEX-Bank's representative office in Johannesburg does not conduct any bank business of its own. Instead, its sole function is to support the bank's headquarters in Frankfurt.