Rand is slowly losing steam after realizing there is not much difference between Zuma and Ramaphosa’s policies

The rand is slowly losing steam after the initial recovery following Cyril Ramaphosa’s election as president of the ANC.

All the optimism about a new “president” is slowly decreasing and economists believe that the currency is falling back and aligned with previous dissertations.

This comes just after Ramaphosa’s land grab threats to seize land without compensation.  This occurrence just verified that here is not much difference between Zuma and Ramaphosa’s policies, and the fact that so many Zuma loyalists favor the ANC’s so-called Top 6 and the National Executive Committee is, initial optimism turned into realism.

Read the original article on the Vryburger

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  • Lascivious

    Well hopefully the Rand can lose enough steam in order to get my Old Mutual Global Equity fund up again in order to cover my losses and switch it back into a Money Market one. For just a relatively small Living Annuity as retired (which was in a different fund until mid-October 2017) of only R1141000.00 I’ve lost R83000.00 to date and the losses continue every two days in a pattern. It’s very worrying to anyone, and did perform outstandingly until the end of November 2017, but then started it’s downward plunge. It’s very scary that A financial institution like Old Mutual can promise a person a good, secure Living Annuity for retirement, then virtually steal back what a person has invested. And I only draw a little 4.5% per annum from it as income, so how mean is that?