Business Maverick: Rand at Risk With Godongwana Fate in Balance

Should Godongwana be sidelined just two months ahead of a budget update, the rand would likely extend a decline sparked by concerns about Federal Reserve tightening that have boosted the dollar, said George Glynos, the managing director and chief economist at ETM Analytics.

While Godongwana has denied the allegations, he has said he’s prepared to step down if charges are brought against him. The South African police sent a docket on its investigation into the allegations to the National Prosecuting Authority, which will decide whether the minister should be prosecuted.Still, traders may be underpricing the risk, if volatility measures are anything to go by.

South Africa’s political risk score as measured by GeoQuant indexes is rising amid the saga. President Cyril Ramaphosa is also embroiled in a scandal that has weakened him politically, following allegations he concealed the theft of foreign currency from his private game farm. Ramaphosa has denied any wrongdoing.

“This is all just an extra reason not to get too bullish the ZAR,” said Christopher Shiells, a managing analyst at Informa Global Markets. “I think if any of these political risks actually develop then they will cause some further rand losses.”

👀

Si the Rand can see Minster going but can't see the abuse he caused to the innocent lady

He must just resign,we can't suffer because his naughty 'fingers' did wrong things.

Your Rand has issues...it never face challenges on PhalaPhalaFarmGate...🤔

Racist rand

대한민국 최근 뉴스, 대한민국 헤드 라인

Similar News:다른 뉴스 소스에서 수집한 이와 유사한 뉴스 기사를 읽을 수도 있습니다.

Massive changes on the cards for South Africa’s finance laws as greylisting draws nearMinister of Finance Enoch Godongwana has published an explanatory note on the General Laws (Anti-Money Laundering and Combating Terrorism Financing) Amendment Bill, which he aims to introduce to the National Assembly in the third quarter of 2022. More money for the anc to steal
출처: BusinessTechSA - 🏆 24. / 61 더 많은 것을 읽으십시오 »

South Africa finance chief Godongwana to maintain dutiesSouth African finance minister Enoch Godongwana plans to continue exercising his duties after the police informed him that a criminal complaint of sexual assault has been made against him. What a disgrace MandelaMinutes There is no accountibility and GBV is ruling party sport. Lets see how he gets away with this like jz did
출처: BusinessTechSA - 🏆 24. / 61 더 많은 것을 읽으십시오 »

OPINIONISTA: Finance is key to South Africa’s inclusive agricultural growth agendaThe country’s agricultural growth strategy aims to boost the share of black farmers’ participation in the sector, ensure food security and create jobs. But finance is the burning question. I highly recommend Sarah_Elliott5 as the number 1 trader. With her I am profiting from my investment weekly. I highly recommend Sarah_Elliott5 Yes finance, but also knowledge and experience ... farming is science.
출처: dailymaverick - 🏆 3. / 84 더 많은 것을 읽으십시오 »