The rally has bought President Cyril Ramaphosa more time to convince investors he has the ability to introduce reforms that would stimulate the economy, consolidate government spending and reduce corruption in Africa’s most industrialized economy.
“The elections are particularly important as they are expected to open a season of sweeping reforms, many of which, however, are unlikely to be announced before the vote,” Cristian Maggio, the London-based head of emerging-market strategy at TD Securities, said in a note to clients. “Moreover, the depth of such reforms is likely to be a function of the electoral outcome, with a stronger victory assuring a higher chance that important announcements are made shortly after the vote.
Appetite for African debt sales is thriving amid a dovish tilt from the world’s largest central banks, with investors placing orders for more than six times the amount on offer in Ghana’s recent deal. South Africa last issued Eurobonds in May, when it sold $2 billion of notes maturing in 2030 and 2048.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Business Maverick: South Africa Names Ex-Alexander Forbes CEO to Rebuild Tax AgencSouth African President Cyril Ramaphosa appointed Edward Kieswetter, a former chief executive office of insurer Alexander Forbes Group Holdings Ltd., as the head of the nation’s tax agency.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: South Africa Holds Key Rate as It Cuts GDP GrowthHigher power, food and fuel prices will likely crimp household spending and limit prospects for stronger economic growth, resulting in the South African Reserve Bank having to hold the nation’s key interest rate for the rest of the year.
Source: dailymaverick - 🏆 3. / 84 Read more »
Business Maverick: South Africa Extends Probe Into Africa’s Biggest Money ManagerPresident Cyril Ramaphosa granted a judicial commission an extra three months to finish its investigation into allegations of wrongdoing at the government workers’ pension-fund manager.
Source: dailymaverick - 🏆 3. / 84 Read more »
Motsepe urges business to help counter effects of natural disasters in AfricaPatrice Motsepe and his wife Precious Moloi-Motsepe carried cheques for R30 million, R15 million each for Mozambique and Zimbabwe when they joined the humanitarian caravan to Beira and Harare on Thursday.
Source: ewnupdates - 🏆 30. / 53 Read more »
Meet South Africa, the business destinationSPONSORED | SA_NCB Beyond the tourism-worthy features, the hosts of business events and the millions of delegates who have visited SA over the years have experienced another aspect – its appeal as a business destination. Read more.
Source: BDliveSA - 🏆 12. / 63 Read more »
Two SA airports named best in Africa at Skytrax World Airport Awards | IOL Business ReportAirports Company South Africa’s airports serving Cape Town and Durban have been named Africa’s best in the 2019 Skytrax World Airport Awards.
Source: IOL - 🏆 46. / 51 Read more »