For quantum information processing (QIP) with trapped ions, the isotope 43Ca+ offers the combined advantages of a quantum memory with long coherence time, a high fidelity read out and the possibility of performing two qubit gates on a quadrupole transition with a narrow-band laser. Compared to other ions used for quantum computing, 43Ca+ has a relatively complicated level structure. In this paper we discuss how to meet the basic requirements for QIP and demonstrate ground state cooling, robust state initialization and efficient read out for the hyperfine qubit with a single 43Ca+ ion. A microwave field and a Raman light field are used to drive qubit transitions, and the coherence times for both fields are compared. Phase errors due to interferometric instabilities in the Raman field generation do not limit the experiments on a time scale of 100 ms. We find a quantum information storage time of many seconds for the hyperfine qubit.