South Africa’s Unity Government Cheers Investors, Banking Group Says
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The outlook for South Africa has turned more positive since the ANC lost its outright majority.
Photographer: Kim Ludbrook/AFP/Getty ImagesThe formation of a new unity government in South Africa and the prospects of it being able to drive an economic recovery is helping bolster sentiment and investment, according to the head of a banking industry group.
“Now that we have hope that South Africa is going to be in a growing environment again, we are beginning to” see a revival in investment, Bongiwe Kunene, managing director of the Banking Association South Africa, said in at an event at Bloomberg’s Johannesburg offices on Wednesday. “These are big investments, which are premised on an operating environment that enables investors to look forward to returns” that they have budgeted for, she said.