The most pivotal South African election in decades is already turning the tide of the country’s financial markets. Money has been pouring into the country on a bet that the African National Congress (ANC) will win enough of the vote to avoid being forced by left-leaning coalition partners to implement less market-friendly policies. South African bonds absorbed the most cash in April since Bloomberg started tracking the data in 2019, and the trend is continuing in May. Stocks are at a 15-month high. The rand is one of only five emerging-market currencies to strengthen this year.
SA rides wave of investor cash ahead of crucial elections biznews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from biznews.com Daily Mail and Mail on Sunday newspapers.
South Africa Rides a Wave of Investor Cash Before the Election yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.
It aims to be running by the end of the first quarter and to grow assets to $1 billion in three to five years, targeting investors such as pension funds, insurance companies and development institutions.