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ANC

Corrupt state owned enterprises lie at the heart of South Africa’s economic woes

The country stands to slip deeper into crisis unless the lust for loot is stopped. The economy is already in deep trouble.

  • Misheck Mutize
5 min read
Malusi Gigaba says Standard & Poor’s downgrade of South Africa to junk status is a setback.
FITCH RATINGS

Gigaba knew of junk status days prior to S&P’s announcement

The new finance minister says he did not inform South Africa of the downgrade because it had been made in confidence

  • Staff Reporter
3 min read
Public Protector Busisiwe Mkhwebane released her report on the multimillion-rand Vrede Dairy Project — initiated by the Free State government in 2012 as part of its efforts to boost the province’s agricultural economy — in February last year. (Gallo)
CREDIT RATING

South Africa’s negative outlook sign of downgrade to follow – S&P

According to analysts, S&P is likely to downgrade South Africa’s sovereign credit rating to junk status by mid-2017.

  • Lameez Omarjee
3 min read
Police clash with protesters during #FeesMustFall protests at Wits.
BLADE NZIMANDE
Video

WATCH: Finance minister Pravin Gordhan presents mini-budget speech #MTBPS2016

Today’s #MTBPS2016 will be key to South Africa averting a credit downgrade by rating agencies.

  • Kiri Rupiah
1 min read
Koeberg’s chief nuclear officer, Riedewaan Barkadien, has resigned to take up an executive position at a nuclear power station in Canada. Eskom said former Koeberg power station plant manager Keith Featherstone would act as chief nuclear officer from the start of August.
ECONOMY

SA’s sovereign rating may avoid being downgraded to junk

Things remain stable, assures rating agency Standard & Poor’s – at least for the time being.

  • Staff Reporter
3 min read
BUDGET 2015
Video

Budget speech: Nene clamps down on bugbears

The finance minister announced treasury’s intention to reduce the main budget expenditure ceiling by R25-billion over the next two years.

  • Thalia Holmes
5 min read
To survive one needs a diversified portfolio with a balance between domestic and international investments and financial planning that takes a long-term view.
CREDIT RATING

Credit ratings and outlook for SA unchanged

Two rating agencies delivered some good news on Friday evening when both kept their credit ratings and outlook for South Africa unchanged.

  • Staff Reporter
5 min read
CRIMEA CRISIS

Investors see Russia less risky than SA as strikes impede growth

Investors are beginning to favour the Eastern European country over South Africa as strike in mining and metals overshadow the seizure of Crimea.

  • Andre Janse Van Vuuren 1
3 min read
Minister of Finance Nhlanhla Nene must take up where Pravin Gordhan left off.
ECONOMIC GROWTH FORECAST

SA will miss 2014 economic growth target – Nene

The new finance minister says the country is unlikely to meet a a growth target of 2.7% for the year given the protracted platinum strike.

  • Rene Vollgraaff
2 min read
Zuma earns about R1-million more than British Prime Minister David Cameron and R2-million more than French President François Hollande.
AFRICAN NATIONAL CONGRESS

ANC calls on South Africans to grow economy

The ANC has called on South Africans to help grow the economy after ratings agency Fitch changed its outlook on SA’s credit rating to negative.

  • Sapa
2 min read
CREDIT RATING

SA credit rating dealt double blow after S&P downgrade

Just hours after Fitch changed its outlook on SA’s credit rating to negative, Standard and Poor announced its downgrading by one notch.

  • Staff Reporter
4 min read
Concern about the spike of unsecured lending in South Africa has resulted in calls for heightened regulation.
CREDIT RATING

SA credit rating downgrade looms

Ratings agency Fitch has downgraded its South African outlook to negative, and analysts expect Standard & Poor’s to downgrade too.

  • Robert Brand
2 min read
Labour unrest in the mining sector has hit where it hurts. So what does South Africa’s first credit downgrade in nearly two decades mean?
MOODY S

Moody’s keeps negative rating for SA banks

While Moody’s has kept its BAA1 rating and negative outlook for the country due to SA’s credit profile, it is optimistic about sub-Saharan Africa.

  • Chantelle Benjamin
3 min read
Treasury might not accept all other items recommended as this could take a chunk — some R4-billion — out of possible revenue raised, calling for a tough balancing act. (Oupa Nkosi/M&G)
CREDIT RATING

S&P’s affirms SA’s credit rating with negative outlook

Ratings agency Standard & Poor’s has affirmed South Africa’s sovereign credit rating at BBB with a negative outlook.

  • Sapa
2 min read
Hamadi Jebali’s resignation came on the same day that ratings agency Standard & Poor’s downgraded the Tunisian government’s credit rating over political instability.
CHOKRI BELAID

Turmoil erupts as Tunisia’s prime minister resigns

Tunisia’s Hamadi Jebali has stepped down after failing to appoint a new government, while the country’s credit rating has been downgraded again.

  • Guardian Reporter
4 min read
Vicente Torres Maria Mostajo and Jonathan Torres face homelessness as eviction procedures in Spanish courts for unpaid mortgages and rent hit a record high.
GUARDIAN REPORTERS

Spanish flu threatens banks

As unemployment soars, financial institutions face rising bad debt and the need for a European Union rescue.

  • Guardian Reporter
4 min read
Ratings warning a red flag
COMMENT

Ratings warning a red flag

A downgrade because of rampant expenditure will have severe fiscal implications for SA.

  • Comment
4 min read
ABHISHEK TAKLE

Citibank exec to take S&P president’s place

Standard & Poor’s said its president is stepping down, capping two weeks of controversy following the rating agency’s downgrade of US government debt.

  • Abhishek Takle
3 min read
ECONOMIC CRISIS

Govt task team to tackle rough year ahead

A government task team will be established to handle the effects of the global economic crisis, Finance Minister Trevor Manuel announced on Thursday.

  • Staff Reporter
3 min read