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Standard & Poor's Ratings Services raised its long-term local currency counterparty credit and certificate of deposit ratings on South Africa-based FirstRand Bank to 'BBB+' from 'BBB'.
South Africans have surely learned to do one thing right and that is to spend cash, whether it is their own or the bank's.
Gerbrand Smit, analyst at The Efficient Group, says that the major performers were the platinum (+1.40%) and information and technology (+2.58%) stocks.
The rand nudged firmer yesterday, supported by dollar weakness and comments by the Reserve Bank governor Tito Mboweni against intervention but lacked the momentum to break out of its recent range.
As an adviser reading this article, which discipline do you find most important for retirement planning?