JOHANNESBURG – South Africa’s brand marketing agency on Monday welcomed the country's improvement in the 2018 Index of Economic Freedom.
Released on an annual basis by the Heritage Foundation, the index provides insight into the extent to which governments enable an open and unrestricted economic environment for citizens and businesses to operate in.
The 2018 report showed that South Africa landed a world rank of 77 out of 180 countries in terms of economic freedom, making it fourth in the African region. Its over-all economic freedom score improved by 0.7 from 2017.
The index provided some insight into dimensions of the country's economic environment as it continued to grapple with historical challenges, and the need to spur on entrepreneurship and innovation, Brand South Africa general manager for research Dr Petrus de Kock.
"Notable improvements for South Africa in 2018 include the improvement in the area of investment freedom, and judicial effectiveness," he said.