Load-shedding accounted 75% of rand’s weakness, says Ninety One
Asset manager highlights optimism generated by suspension of power cuts, formation of GNU
04 December 2024 - 05:00
SA’s largest commercial asset manager Ninety One says the country’s energy crisis of the past two years accounted for 75% of the rand’s weakness in the period — highlighting the devastating impact of load-shedding on the economy.
Ninety One, which manages almost R3-trillion worth of assets, said in a note to clients that the local currency’s recovery this year was largely helped by the suspension of power cuts along with together with optimism in the wake of the formation of a market friendly government of national unity (GNU)...
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