Despite the advent of the new democratic dispensation in 1994, the South African government continues to face many economic challenges. These challenges include high inequality, high unemployment levels, non-inclusive economic growth, public sector capacity constraints, education and health challenges, infrastructure challenges, spatial challenges which marginalises the poor, and high crime levels. Despite these challenges, South Africa has huge economic potential. It is the most powerful and advanced economy in Africa.

South Africa is still the gateway to Africa, receiving the largest share of Foreign Direct Investments (FDI). This is partly due to its well-developed financial sector and relatively better infrastructure. It is primarily due to this “gateway to Africa” status that South Africa joined the BRICS club, which consists of Brazil, Russia, India and China. Africa’s economy is among the fastest-growing in the world, with a rapidly growing population.

It is also evident that other African economies such as Nigeria, Kenya and Egypt are catching up, and that with relative stability and peace in Africa, that a growing number of investments are bypassing South Africa. This implies that entry into the continent depends on the developmental stage of countries. Despite Africa’s economic potential, there are serious economic challenges that must be addressed for the continent to realize its full potential. It is for this reason that South Africa’s decline is only relative. Overall, tackling South Africa and African economic problems is key to the continent developmental goals.

Support in the form of training, skills development and evidence- based research is pivotal in supporting stakeholders, such as government and the private sector, to deliver on South Africa’s national developmental goals. . Consulting firms can play a crucial role and contribute by shedding light and generating new knowledge on how some of the serious economic challenges can be addressed.