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Opinion

'South Africa’s economy is doing better than we all anticipated'

7 June 2021 6:23 PM
Tags:
Economy
The Money Show
Standard Bank
Economic growth
Bruce Whitfield
FirstRand
GDP Growth
Kokkie Kooyman
economic recovery
Denker Capital

The Money Show’s Bruce Whitfield interviews Kokkie Kooyman, Executive Director and Portfolio Manager at Denker Capital.
  • South Africa’s economy is recovering faster than forecast

  • Consumer spending is at pre-pandemic levels

  • Banks’ results will be better than expected six months ago


© Chanitkasem Sanguanwit/123rf.com

Trading updates by some of South Africa’s largest banks are hinting that the economy might be recovering to pre-pandemic levels.

FirstRand and Standard Bank says the country’s economic outlook has improved, boosted by commodity prices and global economic recovery.

Consumer spending has recovered to pre-Covid levels, according to FirstRand.

The Money Show’s Bruce Whitfield interviewed Kokkie Kooyman, Executive Director and Portfolio Manager at Denker Capital (scroll up to listen).

Full-year results [FirstRand] will be much better than expected six months ago… a cyclical rebound from a low base… Most other markets will show much stronger growth…

Kokkie Kooyman, Executive Director and Portfolio Manager - Denker Capital

The economy is doing better than we all anticipated… strong commodity prices are helping us to show a strong trade balance. Also, agriculture…

Kokkie Kooyman, Executive Director and Portfolio Manager - Denker Capital

House prices are starting to recover… Consumers are spending again…

Kokkie Kooyman, Executive Director and Portfolio Manager - Denker Capital

Globally, we’re seeing the same… What will happen when the aid programmes [in developed markets] end? … We’re not really seeing large companies creating new jobs… We need corporates to start investing capital.

Kokkie Kooyman, Executive Director and Portfolio Manager - Denker Capital

A lot of things are starting to move in the right direction… I think we’re all a bit too pessimistic.

Kokkie Kooyman, Executive Director and Portfolio Manager - Denker Capital

This article first appeared on CapeTalk : 'South Africa’s economy is doing better than we all anticipated'




7 June 2021 6:23 PM
Tags:
Economy
The Money Show
Standard Bank
Economic growth
Bruce Whitfield
FirstRand
GDP Growth
Kokkie Kooyman
economic recovery
Denker Capital

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