South Africa riding high – but it all comes down to Ramaphosa’s next call

South African stocks, bonds and the rand have had a stellar week, but markets are still keeping an eye on Ramaphosa’s next move.

Markets have responded positively to the Government of National Unity , but further improvement will depend on who Ramaphosa appoints to Cabinet.

The Bureau for Economic Research said that positive economic data played a role in the improvements, while global dynamics failed to detail the optimism for South Africa. “Markets will find comfort in a balanced cabinet with component ministerial appointments. On the flip side, any signs of public dissent within the GNU will be unsettling.”

Others, including Pravin Gordhan of Public Enterprises and Ebrahim Patel of Trade and Industry, are set to retire. Sports, Arts, and Culture will also need a permanent minister following Zizi Kodwa’s resignation due to corruption charges.

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BusinessTechSA /  🏆 24. in ZA

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