PRETORIA - Nedbank says the uncertainty around land expropriation is worrying to investors and clients.
The lender saw its headline earnings grow by 27 percent to R6,7-billion for the first six months of the year.
The growth was largely driven by profits at Nedbank’s pan-African associate, Ecobank.
Nedbank has however expressed concern that ongoing policy uncertainty over issues like the mining charter and land expropriation is having a negative impact on investment decisions.
According to Raisibe Morathi, Nedbank's Chief Financial Officer (CFO): "What we’re seeing from clients as a reaction is that those who have to take big decisions around anything concerning land are far more cautious around their actions...It’s that level of uncertainty that prevents people from taking significant decisions."