The year began with a United States drone strike which killed Iranian General Qasem Soleimani and opened up the potential to set the world on a war footing. February saw SA equities fall 9%, while global markets fell more than 85% in dollar terms as concerns rose that the economic impact of Covid-19 would be more significant than initially thought. And now with Davos 2020, the State of the Nation Address by President Cyril Ramaphosa and the much-anticipated Budget Speech by Finance Minister Tito Mboweni behind us, attentions are turning to the looming possibility of a sovereign rating downgrade for South Africa.
Our local outlook is challenging to say the least and any solutions to the myriad problems facing South Africa are unlikely to come from government alone, which means that the country must look to the private sector and the rest of the world. From downgrades to political in-fighting and ongoing state-owned enterprise woes, 2020 promises to be a challenging year from a South African perspective.
In this webinar recording, Chantal Marx and Wayne McCurrie chat to Ryk van Niekerk of Moneyweb, as they unpack the current economic climate and provide guidance on staying the course, brought to you by RMB Private Bank.
More on Chantal Marx:
Chantal helped launch the in-house research and insights platform at FNB Wealth and Investments. Her team is focused on stock-specific research and they work closely with the FNB Economics and Strategy teams to generate original ideas and content and communicating such to clients in a straightforward manner.
She holds a Bachelor of Science Degree (Mathematics and Economics), a Bachelor of Commerce Honours Degree (Investment Management), and a Masters in Finance from the University of Johannesburg (UJ). Chantal is a CFA Charterholder.
More on Wayne McCurrie:
Qualifications, B Compt (Hons) CA(SA). Wayne started his working career under Articles of Clerkship and then as a management accountant in KwaZulu-Natal in 1979. He moved to Johannesburg in 1989 to work for Lifegro Assurance, a company bought out by Momentum Group. He transferred to investments in 1991.
Wayne has worked with the broader FirstRand Group’s investment houses, performing various functions including chief investment strategist and chief investment officer. Wayne transferred to FNB Wealth and Investments in 2018 and is currently a portfolio manager. Wayne also regularly appears on radio and TV as a market commentator.
Brought to you by RMB Private Bank.