Alec Hogg says even in the darkest of hours opportunity exists. And for South Africa, the weak Rand makes local products incredibly cheap on the global stage – especially those of the intellectual kind.
Eskom has relied heavily on the liquidity of the international bond market for a big slice of its funding. A Government guarantee – R83bn, means smart money has started moving back into Eskom bonds.
Investec has launched its FTSE 100 Multiplier to provide South Africans the option of investing abroad in an affordable manner.
The Rand fell to its weakest in almost 14 years on speculation that the US Federal Reserve will raise interest rates next month.
SA rand slipped against a firm dollar on Wednesday as headline inflation rose to a 2015 peak in May, opening the door for further losses ahead of a US Federal Reserve meeting.
South Africa’s rand reversed gains against the dollar on Thursday, after investors put behind them a recent raft of soft U.S. data to still price in the prospect of higher rates in the world’s biggest economy.
South Africa’s rand traded within reach of the previous day’s two-week high on Wednesday.
South Africa, the continent’s most advanced economy but plagued with stubborn structural difficulties, recorded a 24.22 billion rand ($2.1 billion) trade deficit for January and is facing its worst power-supply crisis since 2008.
South Africa’s rand weakened against the dollar in line with the euro on Thursday, relinquishing earlier gains which had been triggered by the government’s plan to narrow the budget deficit.
South Africa’s rand weakened in early trade on Thursday ahead of President Jacob Zuma’s annual state of the nation address, which investors hope will tackle domestic economic woes including electricity shortage.