News in South Africa 15th August: 1. SA likely to keep AGOA status: South Africa will likely keep its preferential access to US markets because hundreds of American firms are also benefitting, according to the nation’s ambassador to BRICS. “I don’t think there is any serious threat of us losing preferential access to AGOA. AGOA […]
News in South Africa 14th August: 1. Economy likely to grow: South Africa’s economy probably avoided a contraction in the second quarter, despite record power cuts, logistical constraints and sagging consumer confidence. In the view of analysts polled by Bloomberg Aug. 4-10, the economy stagnated quarter-on-quarter, compared with a forecast for a 0.1% contraction last […]
News in South Africa 11th August: 1. SA R500 billion in debt: South Africa will need to borrow R500 billion over the next year, or R2 billion per weekday on average, to fund its current fiscal deficit and refinance maturing debt. This increases the risk of investing in the country and increases borrowing costs for […]
News in South Africa 8th August: 1. Alerts issues over taxi violence: Tensions between the City of Cape Town and the taxi council have boiled over, resulting in several countries issuing an alert to their citizens planning on travelling to the city – with some suggesting they delay their trips if possible to avoid harm. […]
News in South Africa 7th August: 1. Government credibility scares off investors: The government’s lack of credibility due to its poor economic policy, unsustainable debt burden, and policy uncertainty adds to the risk premium on South African assets, making investors fearful of investing in the country. Following the South African Reserve Bank’s (SARB) Annual General […]
News in South Africa 2nd August: 1. US stripped of AAA rating: The US was stripped of its top-tier sovereign credit grade by Fitch Ratings, which criticized the country’s ballooning fiscal deficits and an “erosion of governance” that’s led to repeated debt limit clashes over the past two decades. The credit grader cut the US […]
