However, none of us should underestimate the difficulties of managing the exchange rate and of developing knowledge about when and how much to allow the exchange rate to move in response to domestic and external economic shocks. Even beyond the management of the exchange rate, central banks in developing countries face difficult challenges in developing their monetary policy frameworks.
South Africa's involvement ranges from the Mozal smelter in Mozambique to SAA's participation in Tanzania, and includes hotels, factories, cellphone operators and shops in numerous countries on the African continent. South Africa's investments in Africa at the end of 2000 exceeded R24 billion.