Standard and Poor’s Global Ratings downgraded its outlook on South Africa to stable from positive, citing severe rolling blackouts. The rating agency says South Africa’s constraints on infrastructure and electricity supply could affect its economic growth. S&P has kept South Africa’s currency debt rating unchanged at sub-investment grade but has[…]
Religious organisations who have been calling on the ANC to impose a boycott and sanctions campaign have welcomed the announcement of the downgrading of diplomatic ties with the state of Israel. In a statement, the Jamiatul Ulama South Africa lauded the move announced by the International Relations Minister Lindiwe Sisulu,[…]
A poll carried out by South Africa’s governing party, the African National Congress (ANC), has found overwhelming 75% support for the shutdown of the SA Embassy in Israel. The ANC online poll comes ahead of the ANC’s conference later this week where branches are to ratify a recommendation from the[…]
A list of protest marches being organised against President Jacob Zuma has created a craze on social media. The page titled We Are South Africans is part of a social coalition movement calling on South Africans to unite under one banner and to use their voice against the President. The[…]
DA leader Mmusi Maimane has pleaded with ratings agency Standard and Poor’s (S&P) not to downgrade South Africa to junk status, ahead of the agency’s decision on Friday. “I want to urge today to S&P. Tomorrow you make a decision about the downgrade – we don’t want a downgrade. The ANC is[…]
A credit rating downgrade to sub-investment grade or junk status will cause rand weakness, push SA into a recession and lead to the loss of at least 200,000 jobs, Standard Bank chief economist Goolam Ballim warned on Monday. A downgrade would see SA’s gross domestic product (GDP) decline by 0.3%[…]
Probably speaking, the whole talk of the market, the world around South Africa has been downgrade, downgrade, downgrade and I think by and large that has been in our sovereign spreads for the last couple of months since Nenegate in December, so South Africa is already priced like a double[…]
South African Finance Minister Pravin Gordhan met with top business leaders last Friday to discuss steps to boost investor support and avert a credit rating downgrade sparked by SA domestic challenges. About 60 chief executive officers representing industries ranging from banking to mining met with Gordhan for two-and-a-half hours at Nedbank’s offices in[…]
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