JSE-listed investment fund African Rainbow Capital Investments (ARC Fund) notes that the third quarter of its 2023 financial year was characterised by a challenging macroeconomic environment featuring currency weakness, elevated inflation, rising interest rates and electricity supply constraints.
"Gross domestic product growth is sluggish, and business and consumer sentiment remain suppressed.
“Despite the current economic climate, the performance of several portfolio companies has been resilient, and we continue to identify attractive investment opportunities,” the company said on June 9.