Standard Bank upbeat on SA and Africa operations
As many as 95% of foreign investors are looking to increase their exposure to SA, with 30% of these planning to do so within the next three months, Standard Bank’s economists found when they asked a range of offshore bond and equity market investors how their perceptions of SA had changed since the election.
Standard Bank CEO Sim Tshabalala cited the findings in an upbeat outlook for SA’s and Africa’s economies as he presented the group’s results, which showed a 17% increase in earnings in constant currency terms for the six months to June, which translated into just 4% in rand terms because of large currency devaluations in some of its African markets...
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