for subscribers

BREAKING: S&P downgrades SA to junk status

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

Cape Town –Ratings agency S&P Global Ratings on Monday downgraded South Africa to sub-investment grade and said a massive Cabinet reshuffle shortly after midnight on Friday has put policy continuity at risk.

The decision follows a Cabinet reshuffle which claimed the jobs of Finance Minister Pravin Gordhan and his deputy Mcebisi Jonas.

Barely 24 hours into his new job as Minister of Finance, Malusi Gigaba clarified two important aspects of his new appointment which represent major shifts from his predecessor. Both aspects of the new Gigaba era should leave South Africans concerned and calling for greater scrutiny than ever before on government, political analyst Daniel Silke earlier wrote on Fin24.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
15.13
(-0.14)
ZAR/GBP
20.70
(-0.11)
ZAR/EUR
18.42
(-0.11)
ZAR/AUD
11.67
(-0.11)
ZAR/JPY
0.15
(-0.86)
Gold
1855.20
(+0.05)
Silver
25.47
(+0.10)
Platinum
1100.00
(+0.44)
Brent Crude
54.81
(-1.30)
Palladium
2352.23
(+0.52)
All Share
63987.92
(-0.29)
Top 40
58886.26
(-0.14)
Financial 15
11685.83
(-2.13)
Industrial 25
86576.24
(+1.21)
Resource 10
62699.98
(-1.34)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Please select an option Oops! Something went wrong, please try again later.
Results
Yes, and I've gotten it.
21% - 722 votes
No, I did not.
52% - 1791 votes
My landlord refused
28% - 960 votes
Vote