EDITORIAL: Keep calm and carry on, currency market shows
The rand has gained 5.4% against the dollar and on Wednesday slipped below R14/$ for the first time since late February
It has been a common refrain from analysts and some business leaders that we should not expect much to happen in SA until general elections on May 8 — not from the government nor from the investment community. It is almost as if having a democratic system is a curse rather than a blessing. Very few people have articulated what it is that could happen on May 8 that would make SA’s prospects much worse, or better even, than they are now. Most surveys indicate that the political landscape will look similar to what it does now, with the ANC set to win about 60% of the vote, which would be two percentage points lower compared with its performance in 2014.
There is a view that Cyril Ramaphosa leading the ruling party, which steadily lost support during the disastrous and corruption-plagued reign of Jacob Zuma, into an improved showing in May will strengthen his hand and enable him to deliver pro-growth policies.That is seen as crucial to the country maintaining its investment grad...