South Africa’s rand held steady on Tuesday as investors waited for key events later in the week, including the national budget speech and a meeting between President Cyril Ramaphosa and U.S. President Donald Trump.
Finance Minister Enoch Godongwana is set to present his budget proposal on Wednesday for the third time. His previous two budget attempts faced opposition from some coalition partners, particularly over plans to raise taxes. Investors are watching closely to see if this attempt will gain enough support in parliament.
Meanwhile, South Africa’s delegation arrived in Washington on Monday to meet officials from the Trump administration. The talks aim to repair and reset the often tense relationship between the two countries. The highlight of the visit will be the scheduled meeting between President Ramaphosa and President Trump on Wednesday, which is expected to cover economic cooperation and trade matters.
On the stock market, the Top-40 index showed little movement, reflecting the cautious mood among investors as they await clearer signals from government policies and international relations.
South Africa’s benchmark government bond maturing in 2030 remained unchanged, with the yield steady at 8.88 percent, indicating stable investor confidence in the country’s debt.
The coming days are crucial for South Africa’s economic outlook, as the budget speech and international talks could influence investor sentiment and market direction in the near term.
