'South Africa remains an attractive investment destination'
There are green shoots, but the bad news still keeps on coming - a one-way bet against SA Inc and its currency seems alluring, even rational.
But a one-way bet does not exist.
South Africa remains an attractive investment destination, says RECM Chairperson Piet Viljoen.
Foreigners remain net sellers, and locals are still clamouring to go offshore, but there’s a growing trend of highly informed foreigners piling into our shares.
South African companies are going for a song; right now, there a huge opportunity to make money.
The Money Show’s Bruce Whitfield interviewed Viljoen.
The share prices of South African companies have gone down and down… they’ve become tiny… Insiders are buying… highly informed foreign investors [are buying] while sellers aren’t looking carefully at the companies, I think.Piet Viljoen, Chairperson - RECM
The JSE as a business is fine… for investors, there’s a huge opportunity to buy shares and make money… this kind of opportunity only comes around once in a generation…Piet Viljoen, Chairperson - RECM
Keep in mind, of course, that we have… a fairly dysfunctional government, highly dysfunctional state-owned entities, an onerous regulatory environment and macroeconomic imbalances… so, it’s not a slam-dunk, but the odds are on your side…Piet Viljoen, Chairperson - RECM
Listen to the interview in the audio below (and scroll down for more quotes from it).
It’s very definitely a trend. Local and foreign buyers are starting to buy south African assets…Piet Viljoen, Chairperson - RECM
Sellers are benchmark orientated… Local investors only want to take their money offshore…Piet Viljoen, Chairperson - RECM
Pension funds don’t want to invest in small caps. They want to invest in Naspers… a highly risky index, but that’s what institutions want…Piet Viljoen, Chairperson - RECM
There are, at the margins, positive things happening… but I want to see more before I turn bullish on South Africa… The main issue is the absolute wastage that takes place through corruption, and that there are no consequences… those consequences must be furious… We’re starting to see some light at the end of the tunnel…Piet Viljoen, Chairperson - RECM
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