2oceansvibe News | South African and international news

Sponsored by RSAWeb rss
2ov Radio
  • Home
  • About
    • Terms and Conditions
    • Seth Rotherham
  • Lifestyle & Hospitality
  • Café du Cap
  • Cabine du Cap
  • Media Packs / Advertising
  • Contact
    • Contact
    • Anonymous Tips
    • Twitter
    • Facebook
Seth Rotherham
  • What We Can Expect From The Rand After The May Elections

    24 Apr 2019 by Carrie in Economics, Finance, Money, Politics, South Africa
    Related Posts
    • This Is How They Deal With Bad Mayors In Bolivia [Video]
    • Shares To Buy Now, If You Think The ANC Will Win
    • Daily Maverick Says This Is The Most Likely Outcome Of The 2019 Election
    • This Kid Clearly Didn't Approve Of Zuma's KZN Visit [Video]
    • Ramaphosa's Disastrous Train Ride Leads To Obvious Epiphany [Video]

    South Africa is in a state of slow recovery from a weakened rand, load shedding, and fuel hikes.

    Financial analysts are awaiting the outcome of the election in May, which will ultimately determine the rand’s trajectory in the months to come.

    BusinessTech spoke to investment specialist Tsitsi Hatendi-Matika, who says that the rand is currently predicted to be on track for the R14 to the dollar mark after the elections.

    However, she cautioned that this does not account for this week’s spike in oil prices.

    “We know this oscillates between the high-end and the low-end but around these levels, we think it as fair value,” she said.

    However, Hatendi-Matika said it was difficult to guess exactly which way the elections will turn out, as polls typically don’t account for the 8 million South Africans who opt not to vote.

    History tells us that the ANC will win the election comfortably, as they have since the first democratic election in 1994. However, polls show that something of a coalition government is also possible, as support rises for the EFF and the DA.

    In the event that elections provide an unexpected result – such as a president who doesn’t get the majority vote – the rand’s levels could differ dramatically, she said.

    “We had a meeting about this last week and it was noted that ‘black swan events’ by their nature cannot be anticipated.

    A black swan event is similar to Natalie Portman stabbing herself before dancing act two of Swan Lake – so an unexpected event that’s extremely difficult to predict.

    And then there’s America:

    Washington announced a new plan on Monday (22 April) to impose sanctions on countries that import Iranian oil by no longer granting exemptions, and effectively withdrawing from a 2015 agreement.

    This sent international oil prices to their highest levels in 2019, with the spot price of Brent crude hitting just under $75 a barrel, and WTI at $65.70.

    Hatendi-Matika said that in the short-term these high oil prices will feed into fuel price increases which will subsequently feed into food price increases.

    This could ultimately impact South African interest rates and lead to potential job losses.

    While we wait to find out what the rand will be worth post-elections, we can take a peek at what it will look like.

    According to BusinessTech, the South African Mint has unveiled its new circulation coins celebrating 25 years of constitutional democracy.

    ‘Let us live and strive for freedom’ – R5 coin

    Artist: Lady Skollie
    Reverse Typographer: Garth Walker

    The quote from the national anthem will be useful for folks like Kurt Darren.

    Right to Education – R2 coin

    Artist: Neo Mahlangu
    Reverse Typographer: Garth Walker

    This is one of the more ironic coins, considering that education is the most corrupt sector in the country.

    Children’s Rights  – R2 coin 

    Artist: Neo Mahlangu
    Reverse Typographer: Garth Walker

    You can find pictures of more new coin faces here.

    [source:businesstech&businesstech]

    • ← Stop Using ‘Doctor Google’ And Let A Professional Run These Important Tests
    • Thursday Morning Spice →
    • Tweet
    • Tags:
    • elections
    • elections 2019
    • may elections
    • rand
    • South African Rand
    • the rand

    Latest News

    • Items From Paul Kruger’s ‘Missing Hoard’ Now Up For Auction

      [imagesource:here] The legend of the 'Lost Hoard' or 'Kruger Millions' begins during th...

    • Cheeky Cape Town Billboard Battle Gets Tongues Wagging [Images]

      Everybody loves a good advertising back and forth. You may remember the famous BMW vers...

    • What It’s Like On The Front Lines Of Mexico’s Cartel Wars [Video]

      [imagesource: Miguel Fernández-Flores / VICE] Around 15 years ago, Mexico launched “...

    • Insane: Tom Cruise Has A TikTok Deepfake Problem [Video]

      Ever since his Oprah couch-bouncing incident, the world has been keeping a close eye on To...

    • Friday Laughs: ‘Dude With Sign’ Guy’s Game Is Strong These Days

      [imagesource: Instagram / @dudewithsign] Should we have a call before the Zoom call jus...


    • 2oceansvibe Partners

    • CONTACT US
    • GOT A HOT STORY?
    • 2oceansvibe Radio
    • 2oceansvibe Media
    • Media Pack
    • Seth Rotherham
    • Café du Cap
    • Cabine du Cap
    • Cape Town City Accommodation
    • Terms & Conditions
    • Business
    • Media
    • Entertainment
    • Tech/Sci
    • World
    • Travel
    • Lifestyle
    • Sport
    • Politics
  • Follow

    2oceansvibe.com is part of the 2oceansVibe Media Group

    DMMA Logo