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Cash pile, but no appetite for investment
South African companies are sitting with a total cash pile of about R470-billion according to Nedgroup Investments. It says the cash has piled up because companies are reluctant to invest - mainly as a result of global economic uncertainty - according to Sean Segar, head of product (cash solutions) at Nedgroup.
Business Day quotes Segar as saying that companies were showing "lazy" balance sheets and were not using these to create new investments. He says that not only do companies have a mounting pile of cash but they also appear reluctant to borrow even though the interest rates are at their lowest levels in 30 years.
Segar says that companies should put their money to better uses than just leaving cash in low interest-yielding bank account where money will earn minimal levels of interest for the owners.
Read the full article on www.businessday.co.za.
