South African Foreign Portfolio Outflows Biggest Since 2021

Foreign portfolio holdings of South African assets switched to outflows in the first quarter, as investors sold debt and equities and a public company redeemed an international bond.

Portfolio investments saw an outflow of 53.7 billion rand ($3 billion) from an inflow of 33.4 billion rand in the last three months of 2024, the South African Reserve Bank said in its Quarterly Bulletin published on Thursday. That was the biggest outflow since the third quarter of 2021.