Investors Remain Wary of South Africa Rally, Top Bank's CEO Says [Financial Post (Toronto, Ontario, Canada)]
STANDARD BANK GRP SP/ADR (SGBLY)
NASDAQ:AMEX Investor Relations:
reporting.standardbank.com
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Source: Financial Post
investors who are waiting for the continent's most industrialized economy to deliver on promised reforms. Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — South African assets have rallied in recent months, yet the head of the country's biggest bank still sees a cautious approach among many foreign investors who are waiting for the continent's most industrialized economy to deliver on promised reforms. The formation of a government of national unity, led by President Cyril Ramaphosa after May elections, sparked renewed confidence in local markets as the coalition includes parties considered business-friendly such as the Democratic Alliance. The rand has turned its fortunes around to become one of the biggest gainers against the dollar among emerging currencies this year, and both local and hard-currency bonds have outperformed peers from developing economies. Still, many international investo
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