According to Stats SA, the South African economy is now 2.7% smaller than it was in the first quarter of 2020, and as investment opportunities wane locally.
Buy shares in Apple, Facebook, and Amazon
US stock index the NASDAQ 100 has just hit an all-time high, lifted by large-cap stocks such as Apple, Facebook, Amazon, and Google, and many NASDAQ brokers in South Africa facilitate trading in these highly valued stocks. You might need to look no further than your local bank, most of which offer stock purchase products built into their online platforms.
Investec, FNB, Standard, and Absa all facilitate offshore stock investments, while wealth management groups such as Allan Gray and PSG make it easy to move money offshore. PSG’s Wealth House View Offshore Equity Portfolio recently counted JPMorgan and The Walt Disney Co among its top shares, with JPMorgan up by as much as 14.4% and Disney shares up 12.4% within a month.
Invest Africa and Absa Group announce strategic collaboration
Absa’s World Trader Account gives access to some of the world’s largest exchanges and a diverse international portfolio. There is no monthly fee, although the minimum investment begins at $1,000 (R13,776) per market. The platform provides interactive charts, educational reports, watch lists, and alerts—a vital component for any investment effort.
Absa is one of Africa’s largest diversified financial services groups and recently partnered with Invest Africa to support the development of business and investment by integrating Invest Africa’s well-established network. The collaboration includes a programme of educational initiatives such as events, podcasts, and reports, focused on the growth of business and investment and the development of sustainable finance.
Cheryl Buss, Chief Executive of Absa International, commented, “As an authentically African bank with a deep understanding of the continent, we help clients build fit-for-purpose solutions that drive growth.”
Karen Taylor, CEO of Invest Africa said, “The role of the financial services sector in driving economic development has never been more important than now. We are delighted to be able to support Absa Group as the leading African retail, corporate and investment bank and to help the organisation realise its mission to provide sustainable access to financing.”