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Sifiso Skenjana | Ratings agencies have stopped believing in SA's 'turnaround'

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Sifiso Skenjana (supplied)
Sifiso Skenjana (supplied)

On the current trajectory, it is evident that the credit agencies and investors will remain uninspired by our plans for an economic turnaround due to our failure to completely comprehend the real levers available to lift the economy into prosperity, writes Sifiso Skenjana.


On Friday, ratings agencies Fitch and Moody's downgraded South Africa's credit rating deeper into sub-investment grade territory (junk status) citing weak economic growth, unsustainable debt levels and chronic inequality. S&P Global maintained its current rating of BB- for foreign currency and BB for local currency, both with a stable outlook.

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