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Johannesburg - South Africa lies between Kuwait and China - not on a map of the world, but on the World Economic Forum's Financial Development Index.
Of the 52 countries that the WEF investigated, South Africa was placed 25th.
Compared to other developing countries, South Africa's rating is fair.
Although China, Israel, Malaysia and the United Arab Emirates are financially more advanced, South Africa is not too far behind developed countries like Italy and Finland.
Despite the sub-prime and credit crises, the United States is financially the most advanced according to the WEF index, which was published for the first time yesterday.
"Britain and the US remain the front-runners, because the index has looked past these countries' current financial turbulence to the fundamental strength of their broader financial systems," said the WEF statement.
"The broader basis upon which all countries were judged confirmed that these countries (the US and Britain) must head the list because of the strength of their financial intermediaries such as banks and investment institutions, as well as insurance companies, and their healthy markets for stocks, bonds and derivative instruments."
South Africa scored well in various categories. Nowhere else will you find a more transparent domestic financial sector.
The banking sector does South Africa proud on the index. South Africa was placed 22nd in this category.
Banks here have the best self-regulation, and as far as access and capital restrictions are concerned South Africa is also at the top of the list.
However, some sectors are far from a source of pride. The business environment in particular, is holding South Africa back. In this category it was placed 36th out of the 52 countries.
Human capital and infrastructure are the problem subcategories here. South Africa is rated second-last as far as the quality of its teaching in mathematics and science are concerned. The country also comes third-last in the category measuring the effects of the brain drain and the appointment of foreign workers.
Telecommunications infrastructure, apparently because of the high cost of calls and internet and poor access to them, dragged South Africa down to 40th place in terms of business environment infrastructure.
- Fin24.com