South Africa, led by Deputy President Cyril Ramaphosa, had the world at its feet at the World Economic Forum in Davos this week, with prospects for an improvement in the economy over coming months looking more certain. But Reserve Bank Governor Lesetja Kganyago has cautioned the government to firm up promises with concrete action or risk losing positive investor sentiment that sent the rand on a winning streak to its highest level in just more than two years this week. Speaking to Business Times from the World Economic Forum in Davos, Switzerland, Kganyago said investor spirits were "even more positive towards South Africa as an investment destination" now than over at least the past two years. The WEF kicked off on Tuesday and concluded on Friday. The rand shot to its highest levels since mid-2015 against a weaker dollar as investors embraced Ramaphosa's message of recovery, stability and a commitment to tackle corruption. A stronger rand makes it easier for the Reserve Bank's to k...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.