The pandemic of debt

When faced with low growth here in SA the executives at a number of SA REITS looked towards central and eastern Europe and the antipodes for growth and raised foreign currency debt to fuel their expansion. They now lack sufficient equity to absorb the losses from COVID 19 related shutdowns. Debt to market value ratios have risen dramatically. Michael Avery talks t​o Prof Brian Kantor, an economist and former Chief Investment Strategist of Investec Wealth & Investment SA; and David Holland, adjunct professor at the UCT Graduate School of Business.