BUSA has taken note of the impact of the UK’s decision to exit the EU on global markets, commodities and emerging market currencies. Of particular concern is the immediate impact on the Rand and local markets.

While BUSA has previously expressed its support for the UK remaining in the EU, recognising the importance of trade with the EU, the long-term implications of “Brexit” on the local economy are yet to be fully understood. BUSA will continue to monitor developments in this regard and stands ready to engage with government with a view to positioning South Africa appropriately.

Issued by Brunswick South Africa on behalf of BUSA