The World Economic Forum (WEF) on Africa 2019 is currently taking place in Cape Town. During this three-day event, our most senior politicians will be out in full force to convince the international community South Africa remains investable.
They'll discuss lofty matters such as the 4th Industrial Revolution (4IR), sustainability, digitalisation and stability. And, if history is any indication of the lasting impact of such an event on our economic future, don't expect much to come out of these interactions except fancy speeches and promises to work together for a better future.
“But,” I hear you say, “I thought this article was supposed to help me take advantage of the WEF?”
Well it can… but not because it will have a no long-term effect on the country. Instead, there are two moves you can make to take advantage of the situation - but you're going to have to act fast.
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Readers are poised for more double-digit wins n the S$P500…
This faux pas could set your portfolio alight
President Ramaphosa and his Cabinet haven’t had a great time in office. Their policy initiatives – which include expropriation without compensation, the NHI and prescribed assets – are likely to make things even worse. But, the one thing they do have is a proven track record of saying the right things to global investors. Just look at Minister Gordhan’s heroic efforts to retain our overall investment grade by the slimmest of margins.
Add to this the first piece of truly good economic news we’ve had in ages and things start to come together nicely.
On Tuesday, StatsSA announced the economy grew by 3.1% in the second quarter of 2019. While this comes off a very weak base, it means South Africa has avoided a technical recession. And that means, right now, markets are likely to be optimistic about SA.
The combination of these two events along with this month’s meeting between Trump and China could provide a brief window of rand strength.
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So here’s what you need to do…
I expect the rand to move to R14.50/$, if not R14.10/$. When it happens, you’ll need to move fast because this window will be short – In fact, it’ll last no more than a couple days.
And that means, if you want to take advantage of this window, you need be prepared.
Firstly, if you have a good appetite for risk, watch the rand for an opportunity to profit from a short-term forex trade.
Or, if you’re more risk-adverse, consider moving some of your money out of the country when the rand strengthens. The cheapest way to do this is through a Treasury Service instead of the bank. Local banks are notorious for the high fees (3% or more) they charge on offshore transfers. The fees from a Treasury Service, on the other hand, is often less than half of this.
Rand Swiss, Wealth Manager
P.S. If you’re thinking more long term about how to Ramaphosa Proof your financial portfolio then you may be interested in the special report I am currently working on – It’s a step by step guide – on what, why, where and how you should do with your money - to avoid the grabbing hands of the state and safely protect your future whether in or outside SA…
Watch this space or email us at firstname.lastname@example.org
with subject “keep your hands off my money” and I’ll be sure to let you know its release date!