South Africa's economy will continue to prosper in spite of the recent global banking crisis because of its favourable macroeconomic position, said Tito Mboweni, the governor of the South African Reserve Bank.

Speaking in Cape Town last week, Mboweni said: "There does not appear to be any evidence at this stage that the recent turbulence in the international financial markets will have marked effects on the domestic growth outlook, although this will depend to some extent on the impact of these