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Brexit Could Hurt South Africa’s GDP Growth, Kganyago Says

  • Investors don’t see South Africa as a haven for assets
  • Reserve Bank looking beyond the U.K.’s effect on economy
Updated on

The U.K.’s vote to leave the European Union will hurt South Africa’s economic growth, according to Reserve Bank Governor Lesetja Kganyago.

“We would not venture into a recession at this stage, but there is no doubt that it will slow the South African economy from the weak growth that we already have,” Kganyago said in an interview with Bloomberg TV at the European Central Bank Forum in Sintra, Portugal on Tuesday.