Magnus Heystek: February's probable Grey Listing for SA likely to spark run on the currency, shares, bonds

Fiercely independent financial advisor Magnus Heystek has turned even more bearish on SA assets after taking a deep dive into researching implications of a threatened 'Grey Listing' of the country's financial system in February 2023. Heystek says such action has never before been applied to a country of South Africa's size and consequences are likely to be dire. He reckons it could be similar to the massive fallout experienced in December 2015 with Nenegate which, he says, started the slide into SA's precarious position. In this sobering interview with Alec Hogg of BizNews, Heystek says the likely Grey Listing trumps all other factors for investors weighing up their options - and urges them to adopt an even higher offshore weighting for their savings. Learn more about your ad choices. Visit megaphone.fm/adchoices