Newsletter – February 2023 – Issue 129

Just when we thought it’s going to be a calm year, South Africa is now on the grey status list which is going to make any financial transactions an absolute nightmare to deal with. De Ruyter has dropped a bombshell on the high level of corruption in Eskom ( So it must be in all the state owned enterprises) leading right up to ministers that are involved The Guptas taught them well and now that t he snouts are in the trough it will take a miracle to get them out.
As the above went down last week the JSE fell 5% and the Rand and Dollar went from 18 to 1850 and
the British Pound is now over R22.00. So, all our offshore investors are smiling but it’s not a good time to move money offshore at these rates.