A decade of Jacob Zuma has made South Africans more desperate but also more wary of politics and receptive to Siya Kolisi's brand of sincere, lived-in pragmatism, writes Cecelia Balfour.
Morning clouds. Mild.
Communications Minister Nomvula Mokonyane told reporters Cabinet’s interventions aimed at clawing SA out of its latest recession would take shape after its upcoming investment and job summits.
Ratings agency Moody's has kept South Africa's sovereign debt at above investment grade in a late night announcement.
The attempts of the new ANC leaders to root out corruption and boost the ailing economy may mean another downgrade by rating companies can be averted, says SARB Governor Lesetja Kganyago.
President Jacob Zuma has directed those working on a plan to provide free university education to ensure it is implemented in a fiscally sustainable manner, National Treasury has said.
On November 24, 2017, S&P Global Ratings lowered its long-term foreign currency sovereign credit rating on the Republic of South Africa to 'BB' from 'BB+' and affirmed the 'B' short-term foreign currency sovereign credit rating. The outlook is stable.
South Africa will confront the threat of a debt selloff of about R100bn this week as it awaits two concurrent judgments on its credit status.
The rand weakened to an 11-month low following Finance Minister Malusi Gigaba’s mini budget speech, as rating downgrade fears sparked a sell-off of the local currency.
Finance Minister Malusi Gigaba is alive to the fact that the rand could very well be downgraded by ratings agencies in the near future.
South Africa’s four biggest banks, pummelled by political wrangling and enmeshed in economic malaise, are increasingly shying away from their main role: lending.
South African business leaders are preparing for more credit-rating reductions as mismanagement hobbles state companies and after bad decisions by President Jacob Zuma.
On Friday evening Moody's announced that it would not be cutting the rating on SA sovereign debt to below investment grade. Read its statement.
President Cyril Ramaphosa has been a hit with business leaders and investors during his first three weeks in office.
Moody’s has placed a number of cities and municipalities, banks, businesses and insurance groups on review for downgrade, after doing the same for the country's sovereign debt.
The Presidential Fiscal Committee and Cabinet will meet in the next two weeks to work out plan that could spending cuts or tax increases of R40bn to strengthen the fiscus.
Of the ANC presidential front runners, it is not difficult to see why betting on Ramaphosa means to be initially long on South Africa's fortunes, but it's doubtful that can last long, says Gwen Ngwenya.
While there's a chance for SA to be downgraded to non-investment grade in November, rating firms may wait for the outcome of the ANC elective conference, says economist Kim Silberman.
SA’s forecast of higher debt and wider fiscal deficits over the next three years raises the risk of further credit-ratings downgrades as a battle for control of the ruling party limits policy choices.
China has rebuffed the S&P Global Ratings downgrade of its sovereign credit rating, calling it a 'wrong decision' that ignores economic fundamentals and development potential.
The worst may be over for Africa’s two largest economies as they likely emerged from a slump in the second quarter.
Every African nation that has sold dollar debt now has at least one junk rating, but it would be hard to tell by looking at the bond market.
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