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SSA currencies under renewed pressure
CNBC Africa’s Zanele Morrison spoke to Kaneja Amani, Trader, Global Markets, Standard Bank Group for more.
Thu, 25 May 2023 15:43:39 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- The impact of the Fed hiking cycle on local markets and the potential for attractive yearly yields as inflation falls off.
- The performance of specific countries like Zambia, Mozambique, and Angola, and the need for structural adjustments to stabilize currencies.
- The role of liquidity, investor sentiment, and regulatory reforms in enhancing market attractiveness and facilitating investor flow.
Standard Bank Group Trader Kaneja Amani shared insights on the challenges and opportunities facing Sub-Saharan African (SSA) currencies in a recent interview with CNBC Africa's Zanele Morrison. Amani highlighted the macroeconomic backdrop, discussing the potential impact of the Fed hiking cycle on local markets. Despite facing some uncertainties, Amani expressed optimism about attractive yearly yields as inflation falls off. The conversation delved into the performance of local markets, focusing on countries like Zambia, Mozambique, and Angola. Amani emphasized the importance of structural and policy adjustments to stabilize currencies in the region. Moreover, she shed light on the role of liquidity, investor sentiment, and regulatory reforms in enhancing market attractiveness. The discussion also touched upon the recent negative movement of the Rand and its implications for investors. Amani encouraged a long-term perspective, highlighting the cyclical nature of market dynamics in Africa. She underscored the resilience of the region's resource-rich economies and the potential for currency appreciation in a conducive environment. Amani's outlook on Standard Bank Group's strategy in the continent reflected optimism and a commitment to driving growth amidst challenges. Overall, the interview provided a comprehensive analysis of the factors influencing SSA currencies and the opportunities for investors in the region.
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