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Cash shifting overseas at a rate not seen since the end of apartheid

Apr 12, 2016
According to central bank data, South African investors are shifting cash overseas at the most-sustained pace since outflows triggered by the end of apartheid as political upheaval undermines confidence in the continent’s second-biggest economy.
 
cape-talk

"We noticed a very big change last year, when we began seeing outflow growing exponentially versus the inflows.

It really started to run in the third quarter, when talks of a downgrade and Nkandla became the big issue, and then the Nene debate was the final straw, and we saw a big surge in December"

- Andrew Rissik, Managing Director, Sable International Projects

Read the full article on the Cape Talk website

South Africa

Cape Town

Regent Square
Doncaster Road
Kenilworth 7708 +27 (0) 21 657 2120

Durban

201 The Annex
Ridgeside Office Park
Umhlanga +27 (0) 31 536 8843

United Kingdom

London

Castlewood House
77/91 New Oxford Street
WC1A 1DG +44 (0) 20 7759 7514

Croydon

5-7 Selsdon Road
South Croydon
CR2 6PU +44 (0) 20 7759 7581

Australia

Melbourne

9 Yarra Street
South Yarra
VIC 3141 +613 (0) 8651 4500

Sable International is a trading name of 1st Contact Money Limited (company number 07070528), registered in England and Wales. We are authorised and regulated by the Financial Conduct Authority in the UK (FCA no. 517570), the Financial Services Conduct Authority in South Africa (1st Contact Money [PTY] Ltd - FSP no. 41900) and hold an Australian Financial Services License issued by ASIC to deal in foreign exchange (1st Contact Group - AFS License number 335 126).

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