Structured finance departments have taken a bit of a battering in the past few months but in southern Africa there is still belief in and appetite for the business. The domestic market in South Africa is growing rapidly, partly to meet political pressure to transfer assets to people with little money and no equity. Electricity shortages might well also be a key driver of new deal flows.
“We have been doing deals in South Africa to allow black empowerment to take place,” says Peter Hayward-Butt, head of investment banking at Rand Merchant Bank.
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