WORLDVIEW: Why Rand has strengthened – and likely to get stronger still

By Alec Hogg

During my spell with Absa in the mid-1990s, we often referred to the hidden benefit of change – how it breeds resilience among employees. The group created by a merger between four previously independent banks, was forced to tackle serious integration challenges. But these also made its staff highly adaptable, an unappreciated benefit in our rapidly transforming world.

What we experienced at Absa is reflective of South Africa post-1994. While data which Jacob Zuma prefers may not reflect it, even for casual observers of the SA workplace its social and economic transformation is obvious. And beneficial. Because living through change really does stimulate resilience and adaptability.

Those benefits are now being reflected on a wider stage right now through the performance of SA’s exchange rate. Growing uncertainty in previously stable economies of competing currencies is affecting them. And, on a relative basis, supporting the Rand, where the nation’s change has bec...

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