WATCH | Affluent Africans turn to offshore investments to guard against currency volatility

JOHANNESBURG - Despite a recent drop in net wealth among South African households, Standard Bank has reported a rise in offshore investments by high-income earners.

This as multi-asset funds and offshore investments are gaining traction among affluent Africans.

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According to Standard Bank, high-income clients have adeptly leveraged investments in unit trusts, money market funds, and property to capitalize on opportunities

These diversified approaches not only amplify returns but also mitigate volatility across different asset classes and provide robust protection against currency fluctuations.

Standard Bank’s Head of Personal & Private Banking South Africa, Chiko Manokore, spoke to eNCA.