Who Really Controls South Africa’s Economy?

Many Nigerians believe that South Africa’s economy is run by white people. They also view South Africans as lazy and uneducated. They contrast Nigeria’s struggles after slavery with South Africa’s progress since apartheid. They credit strong laws and governance. In reality, the economy is majority-owned by South Africans. The Public Investment Corporation holds major stakes in MTN, DStv, FNB, Absa, Telkom, African Bank, Capitec and more. This framework enforces local regulations. It helps explain why some global firms, including Elon Musk’s ventures, have not entered the market.

Use The App To Win ₦1m

Stories are shared by community members. This article does not represent the official view of NaijaWorld — the author is solely responsible for its content.