Miller Matola, CEO of Brand South Africa, says since 1994, South Africa has continued to exceed expectations in keeping its regulatory and financial environments sustainable and on par with the rest of the world.
The country's professional services capabilities, strength in financial institutions, soundness of banks, and leadership in regulation of securities are reportedly reflected in the World Economic Forum's (WEF) 2011/2012 Global Competitiveness Report. South Africa has an advanced industrial and corporate complex that benefits from working with one of the world's most secure financial services sectors and an admired legal system.
The Report rates South Africa first in regulation of securities exchange and for the strength of its auditing and reporting standards; second in soundness of banks and efficacy of corporate boards; and third in protection of minority shareholders' interest and in availability of financial services.
"Since the establishment of Brand South Africa 10 years ago, we've ensured that communications and messaging remains consistent with economic and development priorities identified by government. However, with the changing face of the global economy and globalisation, building a competitive nation brand also requires the contribution of private business and civil society.
"South Africa is a country that has in recent years has prioritised social cohesion and active citizenship - meaning that it's called on its citizens to get involved in making the nation more competitive.
"South Africa continues to be the leading economy on the continent - accounting for more than 25% of the economic output. Also, South Africa is leading the dialogue and discourse around the African agenda by working closely with its African peers to develop new ways to achieve sustainable economic growth and development."
The top 10 most valuable nation brands are not only leaders economically but also re-invent Africa's image. With South African business becoming smarter in how they invest into the continent, partnerships and closer cooperation between business, government and civil society ensures a competitive economy.
The value of collaborative projects is seen in the recent Square Kilometre Array (SKA) bid. Matola adds that by leading the bid and partnering with its neighbouring countries, South Africa has successfully promoted the continent as a leader in scientific innovation, astronomy, engineering and infrastructure development.
South Africa's development and growth plan is also composed of various initiatives that promote social cohesion, active citizenship and involvement in communities throughout the country. The Play Your Part movement is a Brand South Africa initiative that calls on South Africa's citizens - individuals, government, civil society and business - to play their part in building the nation.
"Social cohesion impacts on a country's brand image and business practice. International investors think twice if there is disunity and conflict between the peoples of a nation. Play Your Part is about getting every corporate and private citizen to contribute in continuing the country's progress and work together to find solutions to our challenges.
"South Africa is a strong brand and behind strong brands are strong business practices, cohesive communities and a unified outlook in pushing the country's growth further."
