A victory of that magnitude for the African National Congress in the May 8 poll is a result seen by many as strengthening President Cyril Ramaphosa’s hand and his ability to carry out investor-friendly changes. An opinion poll released Monday showed the ANC is likely to secure 61 percent support.
UBS has listed a basket of 20 stocks correlated to rand strength, including financials, retailers, industrials, property and telcos. The second of the six-month products is based on a group of 10 domestically focused, “South Africa Inc.” stocks tipped to benefit most from lower bond yields, a stronger currency and improved growth and consumer sentiment.
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