Corporates sit on cash in face of uncertainty, says Kganyago
For as long as SA battles sustained policy uncertainty, companies will sit on large piles of cash and refrain from investing, Reserve Bank governor Lesetja Kganyago says.
Speaking at a webinar hosted by the hosted by the Centre for Development and Enterprise on Wednesday, Kganyago flagged the large cash deposits corporate SA has accumulated in an environment where business confidence has been low and policy uncertainty remains elevated — problems which have been amplified by the Covid-19 shock. ..
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