South African Dilemma!

URGENT UPDATE. SEE MINING NEWS IN THE SIDE BAR The ANC has been in power for 23 years with out any serious rivalry from other parties. No...

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Retired but always looking for new challenges.

Monday, February 1, 2016

South African Financial Strength

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Our economic ship has steadied since the appointment of our  finance minister Pravin Gordhan has been re-appointed .This man has a good record of managing our financial affairs in the past and was a good choice after the two light weights just before his appointment .As a result the Rand has shown signs of strengthening  , at least for the time being!
 We are the most stable financial country on the African Continent.
  Our government has stuck to the capitalist system for the most part, despite agitation from the far left. Unlike many other states in the world it is easier to remove money quickly from our country as there fewer constraints .
 The South African Republic does not go in for "ambush economics" such as Nigeria now seems to be doing. Now that their oil industry is failing  and they cannot balance their budget, they have taken to fining all the large companies such as our own MTN ridiculous amounts of money for frivolous reasons. Western   world companies are also  finding out they also in the line of fire! Surely in the longer term this will negate new companies investing there.
Through its long history South Africa has always paid what it's borrowed from banks in other countries.