How does Bidvest cope with currency volatility?
Bidvest manages companies in their home currencies and foreign earnings are simply a translation to ZAR. The ZAR particularly is a volatile and highly traded currency but we do not countenance speculation or hedging and forward cover is taken on all product imports. Managers are expected to be able to realise an acceptable margin whatever the prevailing rate in whatever territory and one can expect that there will be both positive and negative short term effects but typically neutral over time.
