Archive photo of Morocco. (Photo: Unsplash)
South Africa is no longer the most industrialized economy in Africa. That position now belongs to Morocco.
The African Development Bank’s (ADB) latest Africa Industrial Index shows that Morocco has overtaken South Africa as Africa’s leading industrial economy for the first time in 15 years, driven by continued industrial upgrading, export diversification and strong industrial policy.
The index assesses industrial development in 54 African countries from 2010 to 2024. However, the latest index shows that South Africa’s industrial competitiveness has gradually declined over the past decade.
“Although South Africa remains a continental industrial powerhouse, the country continues to experience a steady decline in industrial competitiveness,” the 2025 index states.
The FF Plus is concerned about this finding.
“Although South Africa is still an important industrial power center on the continent, this development confirms the continued decline in the country’s industrial competitiveness,” says Jaco Mulder, FF Plus MPW and the party’s chief spokesperson for trade, industry and competition.
“Years of unreliable electricity supply, government corruption, policy uncertainty, over-regulation and poor economic management have seriously damaged the country’s attractiveness as an investment destination and dampened economic growth.”
The Johannesburg city centre. (Photo: Tebogo Iosaba/Unsplash)
According to Mulder, the Minister of Trade, Industry and Competition has been warning against the danger of de-industrialisation for years.
“Because the loss of manufacturing capacity means less investment, fewer jobs and increasing economic stagnation.”
The party believes that South Africa urgently needs a political change of course, with a government that promotes economic growth on sound free market principles, restores business confidence and encourages investment.
“The country has extraordinary potential, but it can only be unlocked through policies that support growth, competition and private initiative,” says Mulder.
He believes the FF Plus’s republican values of devolution of power, stronger community economy and free market economic principles offer a credible path to stability, job creation and renewed confidence in South Africa’s economic future.