Current account deficit widens in Q1 as exports slump

South Africa’s current account deficit widened more than expected in the first quarter to register its largest shortfall in two years as the trade balance swung to a deficit after a steep decline in exports, the central bank said on Thursday. Investor sentiment in South Africa picked up after President Cyril Ramaphosa pledged to clean up poor governance that critics say beset the administration of his predecessor Jacob Zuma.