Is the announcement by ANC president Cyril Ramaphosa that the ANC will push for land expropriation without compensation affecting the rand?
The rand weakened by more than 1% after Ramaphosa’s announcement on Tuesday evening. The rand had been trading at R13.10 against the US dollar and weakened to R13.26 after the announcement.
The announcement by President Ramaphosa and obviously coupled with the employment data that came out just shows you that for the fundamental perspective, the rand is really on shaky territory.— Sam Rolland, Economist at Ecomometrix
The timing of President Ramaphosa's announcement from an economic point of view is quite baffling.— Sam Rolland, Economist at Ecomometrix
The uncertainty around land expropriation without compensation is damaging our investment prospects.— Sam Rolland, Economist at Ecomometrix
Listen to what Rolland says about the fuel prices...
This article first appeared on 702 : Uncertainty around land is damaging investment prospects - economist