South Africa dropped five places to 12th in a ranking of emerging market investment destinations, reflecting weak confidence among foreign investors.
Shrinkage in the country's mining sector The decline came after the industry experienced a decline in output for the first time in nine months through November 2025, according to the latest Kearney Index.
“Domestic political uncertainty, infrastructure issues, rising operating costs and global trade tensions have all combined to impact demand for South African mineral exports,” it said. The US topped the overall index for the 14th consecutive year, while China, the United Arab Emirates and Saudi Arabia topped the emerging market rankings for the third consecutive year.