Majority of ANC supporters want downgrade of SA embassy

A poll carried out by South Africa’s governing party, the African National Congress (ANC), has found overwhelming 75% support for the shutdown of the SA Embassy in Israel.  The ANC online poll comes ahead of the ANC’s conference later this week where branches are to ratify a recommendation from the[…]

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Please don’t downgrade us – Maimane

DA leader Mmusi Maimane has pleaded with ratings agency Standard and Poor’s (S&P) not to downgrade South Africa to junk status, ahead of the agency’s decision on Friday. “I want to urge today to S&P. Tomorrow you make a decision about the downgrade – we don’t want a downgrade. The ANC is[…]

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‘Downgrade will push SA into recession’

A credit rating downgrade to sub-investment grade or junk status will cause rand weakness, push SA into a recession and lead to the loss of at least 200,000 jobs, Standard Bank chief economist Goolam Ballim warned on Monday. A downgrade would see SA’s gross domestic product (GDP) decline by 0.3%[…]

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Gordan meets CEOs to boost SA investment

South African Finance Minister Pravin Gordhan met with top business leaders  last Friday to discuss steps to boost investor support and avert a credit rating downgrade sparked by SA domestic challenges. About 60 chief executive officers representing industries ranging from banking to mining met with Gordhan for two-and-a-half hours at Nedbank’s offices in[…]

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