Asset management
PSG CEO Francois Gouws says wealthy not spared from economic headwinds
Low asset valuations flagged as one of the reasons for bottom-line erosion
15 October 2023 - 17:30
PSG Financial Services CEO Francois Gouws says wealthy South Africans have not been spared the harsh consequences of a moribund economy, which has eroded asset prices.
“The wealthy are also getting poorer. In a deteriorating economic environment, everybody is less well off. That is something that is not commonly talked about. But the reality is that partly because of lower asset prices and increases in the cost of living, everybody is suffering, including the wealthy,” he told Business Day...
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