Tag: Cabinet Reshuffle 17

S.Africa’s land expropriation unlikely to end like Zimbabwe

President Jacob Zuma's pledge to expropriate South African land is unlikely to lead to violent seizures of farms like those that impoverished neighbouring Zimbabwe, but could still hurt the economy by scaring off investors worried about property rights.

S&P downgrades seven South African banks

On April 3, 2017, S&P Global Ratings lowered its foreign currency ratings on South Africa to 'BB+/B' from 'BBB-/A-3'. The outlook is negative. We also lowered our national scale rating on South...

Former Deputy SA finance minister Mcebisi Jonas resigns as MP

The Office of the ANC Chief Whip confirms the resignation of former Deputy Finance Minister and ANC MP Cde Mcebisi Jonas as a member of parliament effective 31 March 2017. Comrade Jonas...

“Junk”-rated debt could cost South Africa more than $10bn in lost funds

If South Africa loses two of its prized investment grade credit ratings for foreign and local currency borrowing in the turmoil triggered by the sacking of the finance minister, the country could lose more than $10 billion in investment funds.

Barclays Africa responds to S&P downgrade of South African banks

We have noted Standard and Poor’s (S&P) decision to downgrade South Africa’s foreign currency credit rating to sub-investment grade, and the local currency to just one notch above investment grade, as well...