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Markets favour Godongwana as Finance Minister: Jammine - SABC News - Breaking news, special reports, world,

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Godongwana

Jammine says investors are more inclined to the return of Godongwana at National Treasury.

Financial markets appear to have factored-in the likelihood of Finance Minister Enoch Godongwana retaining his position. This comes as South Africa awaits an announcement on the new Cabinet under the Government of National Unity .Econometrix Chief Economist Dr Azar

Jammine says the markets are seen to be comfortable with Godongwana, despite some criticisms. But he believes Godongwana is receiving favour for navigating the local economy through some tough economic challenges including the COVID-19 pandemic and lower government revenues. “Seeing you’re trading slightly weaker compared to what we saw yesterday but it was quite a bit of an appreciation that we have seen. So, potentially a little bit of profit-taking by some traders, especially if you’re looking at the option as well. In terms of the financial sector, so that also slightly in the rate today after some of the strong values that we had seen earlier in the week.”

 

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