Analysis of the relationship between COVID-19 and the stock market performance in South Africa


  • Sboniso Mokoena University of KwaZulu-Natal
  • Bomi Nomlala University of KwaZulu-Natal





The paper’s objective was to investigate the relationship between COVID-19 and South Africa financial stock markets. The pandemic worsened South Africa's unstable financial condition and societal problems: business was severely disrupted, as were the travel industry, hospitality, food security, small businesses, and many other sectors. The results show that the COVID-19 pandemic triggered high and longer-lasting financial volatility in the markets. The higher level of volatility persistence suggests a prolonged period of increased uncertainty. Overall, the uncertainty about the vaccine's effectiveness towards the pandemic provides low expectations about the future of the stock market, since there are variants that are still being discovered.


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Author Biography

Sboniso Mokoena, University of KwaZulu-Natal

School of Accounting, Economics and Finance

PhD Candidate


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How to Cite

Mokoena, S., & Nomlala, B. (2022). Analysis of the relationship between COVID-19 and the stock market performance in South Africa. International Journal of Finance & Banking Studies (2147-4486), 11(2), 25–33.