Top Private Banks & Wealth Managers 2023: Politics dims the outlook in SA
Survey shows that the mismanagement of the country and its resources has an overriding effect on financial decisions
Wealth managers and their clients are becoming increasingly concerned about the rising levels of political risk, while the spiking costs of living are jeopardising retirement investments. This is intensifying the push to invest offshore.
All but three of the 20 firms that participated in this year’s survey said political risk had increased, due mainly to the potential outcome of next year’s national election. The poll took place before May’s diplomatic fallout following the US ambassador’s accusations that South Africa had supplied weapons to Russia when the sanctioned Russian cargo vessel Lady R docked at Simon’s Town late last year. The accusations led to the rand, which was already under pressure, falling further against the dollar...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.