Rand slips over Ramaphosa campaign donation probe

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Land slips Ramaphosa campaign donation probe

South African rand slipped on Thursday. Investors slipped on Thursday as they were uneasy about investigating the donation of the President of the African National Assembly (ANC) party, President Cyril Ramafosa, to the 2017 campaign.

Mr Ramaphosa said he would help investigate a parliamentary misconception regarding donations by the head of service company Bosasa, and analysts said there was no direct risk that he might be dismissed Told.

However, anti-corruption watchdog surveys have increased political uncertainty during times of poor economy.

At 7:10 GMT, the rand trades at 14.90 against the dollar, 0.2% lower than the previous closing price.

Government bond prices also fell as the benchmark 2026 bond yield increased 3.5 basis points to 8.40%.

Lloyd Miller, an analyst at ETM Analytics, said: Analysts at Nedbank CIB cite the Bosasa scandal among other factors.

The stock prices of the Johannesburg Stock Exchange were almost unchanged, as the full stock index at the start of the deal remained flat.


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