ON THE MONEY
STUART THEOBALD: Over to the amorphous markets
Investors may have concluded that Ramaphosa is too timid to make the big decisions needed
29 May 2023 - 05:00
Politicians have never liked financial markets, especially falling ones. Finance minister Trevor Manuel famously described them as “amorphous” shortly after his appointment in the 1990s, smarting as he was from a 9% fall in the rand in the month after he took the job.
It was hardly a giant slur, but it was enough to upset foreign investors who were appraising SA’s first black finance minister. The rand fell further...
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