US investment banking firm Goldman Sachs bet in 2017 that Cyril Ramaphosa would emerge the victor at the ANC’s elective conference and that – following his ascendancy to the Presidency – he would implement market-friendly reforms that would drive economic growth in South Africa.
And so it was that just a week after the 8 May 2019 elections in which the ANC clinched victory, aided in no small part by its affable leader, Ramaphosa was back on the investment campaign trail, reiterating government’s commitment to growing the economy and stabilising Eskom. In addition, the firm announced that it had signed an equity trading co-operation agreement with Investec. This is a win-win arrangement that provides Investec with access to Goldman’s strong global footprint, and easier access to South African markets for Goldman clients.We see tremendous opportunity to better serve local and global clients investing in South Africa and the wider region,” says Richard Gnodde, CEO of Goldman Sachs International.
While SA is well served by both domestic and foreign banks, there is no doubt that there are opportunities for those prepared to invest for the long haul — providing the economy grows, of course.South Africa is a highly indebted country — both at the sovereign and state-owned company level,” says Lumkile Mondi, a senior lecturer at Wits School of Economics.This means that the bond market will be vibrant going forward. Goldman Sachs does not want to be seen to be just chasing yield.
They will see their arses in SA
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Ramaphosa tells investors Eskom is over-staffed - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.President Cyril Ramaphosa has told the Goldman Sachs Investor Conference in Johannesburg that Eskom is over-staffed. But didn't he just say that there will be no retrenchments? People ... ur must stop this what ur doing.. ur had a chance to make a change and ur didn’t change 💩... why must there be any The ANC president was summoned by corporate just to remained him not to forget the profit that he promised in exchange for the votes he got... State Capture continues....👏 well done to all that voted ANC
Source: SABC News Online - 🏆 32. / 51 Read more »
BUSINESS MAVERICK: South Africa wins a fragile post-election window of economic opportunitySA has come out of the 8 May 2019 elections on a solid footing and has even managed to withstand the financial market sell-off on the flare-up in trade tensions between the US and China late last week. Now all eyes are on whether President Cyril Ramaphosa has the mandate to push ahead with necessary policy reform, taking advantage of this invaluable window of opportunity against a still-nervy global economic backdrop.
Source: dailymaverick - 🏆 3. / 84 Read more »
BUSINESS MAVERICK: Nampo agricultural show highlights the scale and sophistication of South African farmingFarming in SA is undergoing a revolution, and not the kind envisioned by the Economic Freedom Fighters and its copycats in the ruling party. Techniques such as precision farming, which uses GPS technology to boost productivity and yields, are widening the already yawning gap between commercial agriculture and the subsistence plots still being tilled in the former homelands and other impoverished rural areas. A trip to industry group Grain SA’s annual Nampo agricultural show reveals the sheer scale of what is unfolding in the fields. Remember that.Small-scale farming wont feed SA.
Source: dailymaverick - 🏆 3. / 84 Read more »
South Africa's unemployment rate rises to 27.6% in first quarter | IOL Business ReportStatistics South Africa today said that the number of employed persons decreased by 237 000 to 16,3 million in the first three months of this year. busrep We all know what the cure for unemployment is. Let’s be bold and implement it. busrep Thank u myanc busrep Thats what most people voted for
Source: IOL - 🏆 46. / 51 Read more »