Through world wars, economic depression, apartheid sanctions and global financial crises, the South African equities market has offered investors the best returns over the past century.
This is according to research published by the Credit Suisse Research Institute and London Business School professors Elroy Dimson, Paul Marsh and Mike Staunton.
The report found that, between 1900 and 2016, the annualised real return on South African equities was 7.2% a year, beating 23 other countries surveyed.
But this momentum may not be retained into the future, say analysts.
South Africa’s performance outdid the likes of nations such as the United States, the United Kingdom, Germany and Japan.