By CultureBanx Team
- Goldman sees that South Africa’s equity and debt markets are deep & liquid
- The Johannesburg Stock Exchange is 2.5 times the country’s GDP at $1T
As one of the world’s formidable investment institutions, Goldman Sachs (GS +0.98%) is looking to tap into fast economic growth on the continent by expanding its business in South Africa. Can Africa’s most industrial nation revive the firm which is battling a slump in core trading revenue and seeking to tap into new markets?
Why This Matters: The reason South Africa has become so appealing to the Wall Street firm is that its economy is running at just under $400 billion Gross Domestic Product (GDP). Holistically Africa represents about 2% of the world’s GDP and 15% of the world’s population. Specifically, Goldman sees that South Africa’s equity and debt markets are deep, liquid, and key drivers of the continent’s long-term growth potential.
The reason South Africa has become so Click here to read entire article