The president of South Africa, Jacob Zuma, has stepped down following pressure from his own party, the ANC.
The 75-year old who has been in office since 2009 has been dogged by serious allegations of corruption. And corruption is what is hampering the South African economy most.
South Africa is one of the most vibrant economies of sub-Saharan Africa. According to the World Economic Forum’s “Global Competitiveness Report 2017-2018”, it is also one of the region’s most innovative countries, but has dropped 14 positions in this year’s index, as the overall economy is near a standstill.
“Political uncertainty in 2017 has decreased the confidence of South African business leaders,” according to the report.
Out of 170 executives asked for the included “Executive Opinion Survey”, corruption is the most problematic factor for doing business in their country, followed by crime and theft.