Four facts about our provincial economies

Each province is unique. Data published recently by Stats SA provide a portrait of South Africa’s provincial economies. Here are four facts you might not have known about our economic landscape.

Formal business turnover climbs by 5,5%

The South African formal business sector¹ generated R2,57 trillion in turnover in the fourth quarter of 2018. This translates to about R323 600 generated every second from October 2018 to December 2018.

More than half of youth have no money to pay for their tuition

More than half (or 51%) of youth aged 18–24 claimed that they did not have the financial means to pay for their tuition. Furthermore, 18% of those aged 18–24 who were not attending educational institutions indicated that their poor academic performance prevented them from participating. This is according to the “Higher Education and Skills in South Africa” report released by Statistics South Africa.

How financially independent are municipalities?

Spending and income play an important role in determining local government’s ability to deliver services. The ability of a municipality to generate its own income is an important sign of its independence.