Shares and the rand stay strong in a week of drama, ALSI on a record high

It seems that genuine issues that were talked to in the white house between President Trump and President Ramaphosa were favourable for South Africa.

- Chris Harmse

It is expected that the AGOA agreement will continue, President Trump will attend the G20 summit, at talks in boost bilateral trade and investment, will continue.

Trade, Industry & Competition Minister Parks Tau said in an interview in Washington "We are ready to negotiate on the offer submitted and while we are negotiating, we are proposing that the US maintains the reciprocal duty at no more than 10%,".

Analysts are now starting to remodel the possible effects of more positive prospects for South-Africa /US trade and investments on South Africa’s economic growth rate and the Rand/$ exchange rate.

This just after the Minister of Finance have downgraded the country’s economic growth rate from 1.9% to 1.4% on the back of President Trump's tariff announcements on “Liberty Day” at the beginning of April.

The minister of communications and digital technologies Solly Malatsi announced in a policy directive the proposed relaxing of Black economic empowerment (BEE) policies in the ICT sector. This will give the green light for the billionaire Elon Musk’s Starlink to commence business in SA.