Positive steps taken in the Government of National Unity point towards a turning tide for South Africa’s economy in 2024. Here's why ...
, South Africa’s economy in 2024 is showing great signs. Firstly, even through the trying winter months, Eskom’s load-shedding looks to be holding steady as we approachwithout disruption to the power supply. That’s a record number of days not seen since 2021! Secondly, a Bank of America’s fund manager survey shows nearlyelection, it opted for a Government of National Unity.
Nevertheless, despite this minor wrangling, the outlook for South Africa’s economy in 2024 is looking brighter than ever before. More thanof surveyed fund managers say they’re likely to bring money back into South Africa from offshore funds. All told, this is a good thing …A Bank of America survey suggests off-shore funds could soon return to South Africa to bolster the economy under Government of National Unity rule.
According to the Business Tech report, fund managers are backing banks, software, mining, as well as food retailers. Similarly, South African assets have performed strongly since the formation of a Government of National Unity that excludes the MK and EFF. The Rand strengthened to below theper US Dollar recently. Stocks have also surged on the JSE.
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