South Africa

JPMorgan Upgrades South African Assets Amid Unity Government Optimism

today19 June, 2024

Background

JPMorgan, the world’s largest bank by market value, has upgraded South African assets, shifting from underweight to overweight in its Central Europe, Middle East, and Africa asset allocation. The upgrade signals optimism following the formation of a government of national unity. However, risks persist as cabinet positions remain unfilled and the effectiveness of the GNU structure is unproven.

Written by: Leonard Witbeen