*CITIGROUP LIFTS SOUTH AFRICA EQUITIES TO OVERWEIGHT ON EARNINGS

Interesting look :  SA the way to tap into African Markets !!


"April 4 (Bloomberg) -- Citigroup Inc. raised South African equities to overweight, the equivalent of buy, on expected strong earnings growth and companies’ expansion into Africa’s fast-growing frontier markets, the bank said.


Citi analysts forecast South African companies will grow earnings about 20 percent this year, one of the highest rates among emerging markets, it said in a report yesterday. The country’s economy may grow 3 percent to 4 percent next year, while the bank does not expect interest rates to rise until the second half of this year, it said."

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Stephen Gunnion:  sgunnion@bloomberg.net


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