South Africa’s long walk isn’t over yet

While South Africa has successfully transitioned into a multi-racial free-market democracy, significant challenges lie ahead.

South Africa's transition to a multi-racial free-market democracy was "a near-miracle for which the whole world must thank" Nelson Mandela, says The Economist. He ditched the communist economic dogma of the liberation movement, the ANC, before assuming power.

The ANC's embrace of largely market-friendly policies, buttressed by sound macroeconomic management, notably a clampdown on debt and inflation, ensured that South Africa today boasts sub-Saharan Africa's "biggest and most sophisticated economy".

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