South Africa can fix Eskom’s balance sheet by transferring its guaranteed debt to the government’s balance sheet, according to the former CEO of Goldman Sachs Group in sub-Saharan Africa.
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Finance minister Tito Mboweni said the South African economy could contract as much as 6.4% this year due to the coronavirus outbreak and the budget deficit could swell to more than 10% of GDP.
Goldman Sachs is growing concerned about Apple, and it is not alone. While shares of the iPhone maker have been stronger of late, the advance comes in contrast to a darker view toward the stock from analysts.
Five years after its ballyhooed debut, Apple Pay is still struggling to take off. Apple is betting its swanky new credit card can change that.
The rand is undervalued and there’s scope for the currency to strengthen to as much as R11/US$, said Colin Coleman, head of sub-Saharan Africa at Goldman Sachs Group.
Cryptocurrencies dropped sharply for the second time in less than 24 hours, sinking toward a nine-month low amid concern that broader adoption of digital assets will take longer than some anticipated.
The market’s biggest digital coins dropped sharply on Wednesday amid a report that Goldman Sachs Group is pulling back on near-term plans to set up a cryptocurrency trading desk.