In an historic move, the UK has voted to leave the European Union.
This morning, South Africans woke to news of the pound sterling plummeting to lows not seen since 1985, dragging the rand with it.
The overarching question here at home is: will this have any effect on South Africa in the long term?
We spoke to Vodacom to get an idea of whether the exit would have an impact on its business. For those who may not be aware, UK firm Vodafone owns 65% of Vodacom.
“In terms of the implications for Vodafone, each of our country businesses operates as a standalone entity able to adapt to a wide range of local conditions,” Vodafone told htxt.africa.
“As we said before the referendum, we remain committed to supporting our UK customers regardless of the outcome, now and in the future. It is too soon to form a view on the implications of the referendum outcome for the domicile of the group.”
Back at home, Telkom has said that besides currency fluctuations, it doesn’t expect #Brexit will affect its business.
Group Communication executive at Telkom Jacqui O’ Sullivan tells us, “As a predominantly South African company with links into Africa Telkom’s initial exposure from the Brexit decision is relatively limited, however, as with all businesses, the resulting currency volatility remains a concern.”
What Twitter said
As always, South Africans took to the micro-blogging site to share their thoughts.
How do you feel about the British exit from the European Union? Share your thoughts with us in the comments below or on Twitter if you favour brevity.[Image – CC BY/2.0 Jeff Djevdet]