Emerging Markets Update - InFocus: South Africa

President Cyril Ramaphosa has confirmed the governments plans for a partial reopening of the economy from 1st May | The strategy will allow some industries to operate while easing travel restrictions, but the President emphasised that the people must remain vigilant as the worst of the pandemic could be yet to come | Meanwhile, South African Airways (SAA) faces liquidation or a wind down of the company according to the rescue specialists put in charge who stated the state owned airline had run out of funds

To discuss how the above may affect your money transfer requirements, please contact your Currency Dealer at Heritage Pay on +44 (0) 207 117 2934.

None of the information in this article is, nor should be construed as financial advice. All foreign exchange transactions involve risk and you should always seek your own independent financial advice before entering into any foreign exchange transaction.

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