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Money pours out of SA as investors fret

Apr 12, 2016
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.
 
IOL

“We see a net outflow of Rand across all our desks,” said Andrew Rissik, the managing director of foreign-currency trading at Sable Group, a London-based money manager with 100 million pounds ($142 million) in assets. “Poor decisions by Zuma and the ruling party triggered a widespread urge to move assets abroad.”

Read the full article on IOL

South Africa

Cape Town

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

Durban

25 Richefond Circle
Ridgeside
Umhlanga 4320 +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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