Globalization of South Africa Essay

8305 Words Nov 2nd, 2010 34 Pages
THE RAINBOW NATION, GOING BEYOND THE HORIZON - GLOBALIZATION OF SOUTH AFRICA –

ABSTRACT
This paper examines the advantage, disadvantage, trade and FDI in SA from globalization perspective. South Africa(SA) is the one of the post BRICs country and it has largest economy market in Africa. Following the democratic elections of 1994, SA corporations moved with alacrity into the rest of Africa and beyond. Mining houses led the way, followed by manufacturers and financial institutions. Multinational companies also have branched in SA because it is a beachhead for the Africa and takes 70% of African trade. The Government also supports the infrastructure and gives a tax benefit for better business environment. On top of that, now SA is facing
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C. Racial Segregation Apartheid—meaning separateness in Afrikaans (which is cognate to the English apart and -hood)— was a system of legal racial segregation enforced by the National Party government in SA between 1948 and early 1994. Racial segregation in SA began in colonial times, but apartheid as an official policy was introduced in 1948. Apartheid classified inhabitants into racial groups ("black", "white", "colored", and "Indian"), and residential areas were segregated by means of forced removals. The government segregated education, medical care, and other public services, and provided black people with services inferior to those of whites. Apartheid sparked significant internal resistance. Nelson Mandela ended the Apartheid in 1994 and launched Black Economic Empowerment (BEE) to give economic opportunities to previously disadvantaged groups (black Africans, Coloreds, Indians and Chinese). It includes measures such as employment equity, skills development, ownership, management, socio-economic development and preferential procurement. Successful implementers of BEE also see it as a means to create economic growth in SA, and a vital element of their enterprises' strategy. Table 1 shows the Balanced Scorecard which the Enterprises may be rated based on. All seven pillars must be addressed totaling 100 points. Table 1. The generic Balanced Scorecard Element Weighting Compliance Targets
Ownership

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