Wealth and asset manager Peregrine Holdings has said it doesn’t expect the economy to recover in the next 12 months as the country faces one of its largest economic disruptions as result of the coronavirus pandemic.

“I cannot see the next 12 months being easy. We’ve got the  government under pressure in terms of budgets; we’ve got the SA economy under severe pressure; we’ve got the world economy under severe pressure; and on top of all of that we’ve got Covid-19,” CEO Robert Katz told Business Day after the company issued its annual earnings report on Tuesday.

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.

Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now