The South African economy has been under strain in the last decade, but it can still produce millionaires. Many people earning a million rand or more aren’t from major industries like mining and banking — they’re from other areas of the economy.
Industries where South Africans made their money
- Manufacturing
- Real estate
- Technology
- Financial services
Manufacturing
The manufacturing industry is one of the biggest sectors in South Africa—it accounts for about 18% of the country’s GDP. It’s also a very broad sector, encompassing industries like automotive, food and beverage, clothing, metal products and more.
Manufacturers play an important role in South Africa’s economy: they employ over 300 000 people directly and many more indirectly through supplier relationships.
Real estate
Real estate is a big industry in South Africa, and a great one for you to get involved in. As the country continues to grow and thrive, real estate will always be an important part of the economy. It’s also one of the best industries for you to invest in if you’re looking for high returns on your money without too much risk or work on your part.
Real estate can also be an excellent source of income if you’re willing to put some time and effort into it as well. There are plenty of options available for starting up a new business, whether that’s buying property yourself or helping others buy a property through an agency like yours.
Technology
The technology sector is one of the fastest growing industries in South Africa, and it also is a place where South Africans are well represented.
As with any growing industry, there are opportunities for people who want to make money in this field.
South African technology companies like Naspers and Dimension Data have been doing well for themselves over the past few years, and this will continue going forward as long as they can keep up with demand from their customers.
Financial services
- Financial services* is a broad term and can include any business that deals with financial matters. This includes banks, insurance companies, investment companies and more. The financial sector is an important industry in South Africa and it’s growing rapidly. It employs many people too! If you’re interested in working in this field, then look into careers like actuarial science or investment management.
