Africa

South Africa rand expected to weaken as fiscal worries return

by Editor

January 5, 2018 | 11:47 am
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New South African bank notes featuring an image of former South African President Nelson Mandela are displayed at an office in Johannesburg January 17, 2013. South Africa's rand was slightly firmer against the dollar on Thursday, a day after miners at Anglo American Platinum called off a strike at the world's top platinum producer. REUTERS/Siphiwe Sibeko (SOUTH AFRICA - Tags: BUSINESS POLITICS)

The rand is likely to weaken over 12 percent this year, hit by doubts about how much the new leader of the ruling African National Congress, Cyril Ramaphosa, a promised reformer, can do for South Africa’s ailing economy.   The rand is expected to weaken to 13.85 against the dollar by the end of the…

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by Editor

January 5, 2018 | 11:47 am
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