The state of the local economy, rising social unrest and uncertainty around policy make it very easy to understand the lack of faith that investors have in the local equity market.

Investor sentiment is further dampened by the blows to corporate SA following the numerous corporate scandals that have erupted in recent times. Right now, it is difficult to see the light at the end of the tunnel, and this is only exacerbated if one reads a newspaper, watches the news or listens to the radio. It will likely result in the conviction that SA is the next Venezuela or Zimbabwe, the rand is on a one-way trajectory, foreigners are unwilling to invest in SA, the consumer is overburdened, corruption is rife, or something along those lines. ..

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