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(FOCAC) Conference in November. The year ended with an announcement byUNCTAD that South Africa was the largest recipient of FDI in Africa in 2005,spurred mainly by the acquisition by Barclays plc of South Africa’s ABSA bank. 447On the flipside of the coin, South African commerce was also extending anddiversifying its role in the African market, including acting as a valued partner tocommercial interests from outside the continent. 448Also in 2007, the Heiligendamm Process had begun to entrench South Africa’sposition, along with that of other intermediate states, as important partners in globalgovernance. Domestically, the South African economy was at a high point, enjoyinggrowth rates of some 4,9 percent for 2006. This was accompanied by growth in anumber of sectors crucial to the South African economy – namely, construction,finance, transport and communication – and, a decline in unemployment figures. 449Yet, the relevant decisionmakers remained cognisant of the danger of overextendingSouth Africa’s capabilities. In responding to questions regarding possibleSouth African military involvement in Somalia, the Minister of Defence noted,“(I)t is not in the interests of Africa, nor South Africa, that we over commitourselves seeing that South Africa is already rather over committed in Darfur, Burundi, theDRC, the Comoros.” 450At the same time, South Africa’s multilateralism started to assume a strong legalistcomplexion as Mbeki’s second term progressed. Representations made by SouthAfrica’s ambassador to the United Nations, Dumisani Kumalo, increasingly broughtdown the wrath of Western powers and international human rights organisationsduring the country’s tenure as a non-permanent member of the Security Council(2007-8). South Africa’s position in the UN, was repeatedly seen as giving cover togovernments of dubious reputation, such as the military junta in Myanmar andSouth Africa’s neighbour to the north, Zimbabwe. South Africa acted to precludedraft resolutions condemning human rights abuses in both states on the pretext thatthe Security Council was not the appropriate forum for the discussion of the human447 Factual data in this paragraph is mainly derived from the Economist Intelligence UnitSouth Africa Country Reports: September and December, 2006.448 In 2007, the Industrial and Commercial Bank of China (ICBC) purchased a 20% stakein South Africa’s Standard Bank Group for US$5.5bn. See Standard Bank website.449 Trevor Manuel, Budget Speech. 21 February, 2007.450 Minister of Defence, Briefing to the International Relations, Peace and SecurityCluster, 14 March, 2007. Accessed online at:http://www.info.gov.za/speeches/2007/07021511451001.htm on 10 May, 2011.186