Brexit delay likely to impact SA economy

British Prime Minister and leader of the Conservative Party Theresa May has postponed Tuesday's vote on her Brexit deal so that she can go back to Brussels and ask for changes. How does this postponement affect South Africa?

Business Day reported that the rand fell to its lowest level in a long time.

READ: Why Brexit is unlikely to succeed - Ranjeni Munusamy

Speaking to Xolani Gwala, the North-East England Chamber of Commerce's Richard Swart says South Africans should brace themselves for more currency chaos.

He says the chances of the deal being renegotiated are low as the European Union (EU) has made its boundaries clear.

In fact, last night the EU leaders issued a statement saying they will not fundamentally renegotiate the deal and what they may do is try to tweak some of the wording.

Richard Swart, North-East England Chamber of Commerce vice president

Both the EU and the United Kingdom are important trade partners with South Africa and any economic uncertainty in that region will impact South Africa, he concludes.

Listen below to the full interview:


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