Reported 12 months ago
Following President Cyril Ramaphosa's announcement of a new cabinet prioritizing economic growth and including business-friendly opposition members, South African markets experienced a broad rally, with the Rand strengthening by 1% and government bond yields decreasing. Analysts anticipate further Rand appreciation, citing the retention of close ally Enoch Godongwana as finance minister signaling fiscal stability and adherence to budget projections. The inclusion of opposition parties is seen as possibly accelerating reforms to address economic challenges, despite concerns about coalition fragility.
Source: YAHOO