8 Ways To Turn The South African Economy Around

Written by Peter Pedroncelli
rand recovers
South African Finance Minister Pravin Gordhan. Photo: Schalk van Zuydam/AP

Control local factors

The frustrating thing for South Africans is that international elements out of their control affect the local currency. The South African Rand appreciates or depreciates versus the US Dollar or Euro due to factors that are based outside of South Africa’s borders, as these factors see investors buying or selling emerging market currencies. Little can be done about those factors, but the South African government and the private sector need to be in control of local factors, ensuring that a repeat of the finance minister type mess is never made.