South Africa’s R81 billion investment blow

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South Africa’s stock market had a tough start to 2024, but the bond market has seen some interest from international investors.

Foreign investors have been selling off South African equities in 2024, dumping R81 billion worth in the first half of the year.

Despite the peaceful election and the formation of a more market-friendly Government of National Unity , foreign investors are still taking money out of local assets. In its interim results, JSE Ltd. noted that South African investors continue to withdraw money from the country in pursuit of higher returns offered by global equity markets.

While South African equities have been hard hit in recent years, local bonds have held up and are attracting billions of inflows. Last month, foreign investors’ ownership share of South African government bonds crossed 30% for the first time in five years, showing renewed interest in local debt.

 

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