South Africa's industrial zones cost billions, but only a few actually work

The World Bank reviewed South Africa's special industrial zones and found they are not delivering on their promise. Billions in public money went into these zones, but only a few attract investment or create jobs.

South Africa's government poured R24.2 billion into these zones to boost industry and create jobs. This report says that money is not working efficiently. The government will likely have to rethink its entire approach to industrial policy, or it will keep spending money without getting the economic growth it wants.