Covid uncertainty mutes Investec private bank clients’ activity
The wealth management arm expects sustained dollar weakness and SA to benefit from a strong Chinese economic recovery
10 November 2020 - 19:46
UPDATED 16 November 2020 - 12:15
SA’s more affluent workers and business owners are applying the brakes to new investment in the economy as they wait to see how the pandemic and associated lockdowns progress, according to the boss of the country’s largest private bank.
“We are seeing muted activity from our clients,” Cumesh Moodliar, head of Investec Private Bank SA, said in an interview with Business Day last week. “Following the lockdown, entrepreneurs became much more prudent in what they were doing,” and were assessing the economy recovery prospects before committing to new capital expenditure or projects, he said. ..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.