On Monday, November 23, 2015, Bank Windhoek hosted a business breakfast in Windhoek for stakeholders and clients, at which well-known South African economist, Dawie Roodt, chief economist of the Efficient Group, also former economist at the South African Reserve Bank and economics editor of Finweek, gave a presentation outlining the outlook for growth in the global economy, with an emphasis on the South African economy.
In his presentation, entitled ‘The economic sabotage of good intentions. Working yourself into a stupor with no avail’, Roodt discussed the impact that monetary policy “madness” and fiscal policy “folly” have on global financial markets. He briefly touched on the impact that higher interest rates in the United States will have on emerging markets.
Speaking to a crowd of around a 100 Bank Windhoek and Capricorn Asset Management clients and other stakeholders, Roodt shared his views on the future of the South African economy and the steps needed to mitigate the impact of the various risks circling the South African economy. Commenting on South Africa’s political economic environment, Roodt added that ideological confusion and contradictory policy stances has negatively impacted the country’s policy implementation capabilities.
Yet, despite the weak economic environment, Roodt added that he remains fairly optimistic and noted that a downturn in economic activity should not be wasted. While remaining cautious of the gloomy global growth outlook, Roodt was slightly upbeat about the outlook and prospects for the southern African growth environment, noting the sound and healthy financial markets in the region and that growth forecast in the medium- to long-term remained positive.
Dawie Roodt will again speak to Bank Windhoek and Capricorn Asset Management clients and stakeholders at an event in Walvis Bay on Tuesday, 24 November 2015.