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As South African Stock Investors Eye 2020, Budget Looms Large

  • Investors looking for positive steps to boost moribund economy
  • Country seeking to preserve last investment-grade rating
Electricity Round-Up As Eskom Is 'Threat' to South Africa Investment Strategy
Photographer: Waldo Swiegers/Bloomberg

South Africa’s budget, due to be presented next month, is looming as a key first-quarter event for investors seeking insights on the outlook for a stock market that failed to keep pace with emerging-market peers last year.

Johannesburg’s benchmark index was held back in 2019 by the dismal performance of the local economy, which is at risk of slipping into recession. The FTSE/JSE Africa All Share Index climbed 8.2%, well short of the 15% gain in the MSCI Emerging Markets Index.