Finweek English Edition - - The Week -

South Africa has dropped 14 places in the World Eco­nomic Fo­rum’s lat­est Global Com­pet­i­tive­ness In­dex, with an over­all rank­ing of 61 out of 137 coun­tries. It is now only the third-high­est ranked coun­try in sub-Sa­ha­ran Africa, with Mau­ri­tius sit­ting at 45 and Rwanda at 58, re­ported. The coun­try’s rank­ing was af­fected by slow growth, cor­rup­tion, crime and theft, and govern­ment in­sta­bil­ity, which damp­ened SA’s busi­ness en­vi­ron­ment, it said. SA dropped from num­ber one to 30th in the rank­ings of the qual­ity of au­dit­ing and re­port­ing stan­dards in the in­dex.

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