South Africa's has given ratings agencies positive news

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South Africa has given credit ratings agencies “positive news” in recent meetings, the nation’s deputy president said on Sunday after announcing a proposal for a national minimum wage.

“We have made tremendous progress on the labour instability issues,” Cyril Ramaphosa said.

South Africa faces a possible downgrade to sub-investment grade by ratings agencies next month, with often violent strikes by labour unions a major concern among investors.

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