The South African Reserve Bank said in its Quarterly Bulletin that higher inflows reflected debt funding received by a local telecommunications company from its foreign parent. The bank did not identify the company because the transaction had not been made public.
Portfolio investment shifted to a net outflow of R9-billion in the second quarter, from a net inflow of R9-billion in the previous three months.
During April to June, non-residents sold R34.2-billion worth of domestic equities and bought R25.1-billion worth of domestic debt securities.
The acquisition of debt securities was partly offset by the national government’s redemption of a $1.25-billion international bond, the Reserve Bank said.
