Impact Of International Developments 1960- 1961 On The Investment Climate In South Africa

The Republic of South Africa is an outstanding example of the benefits to a new land by the application of individual enterprise, capital and know-how. While South Africa was colonized by European and Bantu people some 300 years ago, it was only 70 to 80 years agog when diamonds were discovered at Kimberley and gold on the Witswatersrand, that the mining, industrial and commercial potential of the country began to emerge. South Africa s national income rose from R1, 200 million in 1945 to over R4 billion in 1960 (1R = 10 shillings = $1.40 U. S.) The annual national income per head of population -- including all races -- is currently R254 (£127) This compares with £24 for India., £30 for Nigeria, and £50 for Ghana. Allowing for the increase in population, the increase in real income per head of population was about 40% during the past 15 years.