Cautiously more optimistic about SA, but structural problems remain – S&P Global’s Nezo Sobekwa
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The local currency, banking stocks and local sovereign bonds gained after the re-election of President Cyril Ramaphosa was confirmed. The outlook for South Africa, says Nezo Sobekwa, African risk analyst at S& P Global Market Intelligence, is “cautiously optimistic”, but he did not foresee that things were going to turn around in the short term. Electricity, water shortages, reliance on imported fuel and Transnet remain a concern. Energy policy inconsistency is also likely to remain in the short term. Sobekwa said he expected that President Ramaphosa will, with his new mandate, start tightening the screws on corruption, but it remains to be seen “if the buffalo can gain some momentum”. – Linda van Tilburg Learn more about your ad choices. Visit megaphone.fm/adchoices
