In an interview with The Money Show's Bruce Whitfield, Dr Adrian Saville, CEO of Cannon Asset Managers, said South Africa had been "cut a lot of slack"."Capital markets have priced South Africa as if we’ve been taken into sub-investment grade…. They’ve been pricing us that way for some time."Whitefield also spoke to Chris Malikane, the associate professor of economics at the University of Witwatersrand.
Malikane weighed in ahead of the Moody's review. He agreed the country should have been downgraded by Moody's and added ratings agencies were more concerned about the politics of the country, namely the upcoming elections. "President Ramaphosa has announced bold policy statements that most of his predecessors had no political courage to do. Rating agencies would not want to upset the path he is taking."
He believes the markets will do well as long as the ANC wins the 2019 election and Ramaphosa remains the president of South Africa.Listen to the audio for more.
Lets see what happens after his grace period beyond May.If he can pull it off good for him and us.
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Cyril Ramaphosa's goal to woo foreign investment yields successSouth Africa’s foreign direct investment more than doubled in 2018 to reach its highest in five years, the central bank said on Wednesday, giving a boost to President Cyril Ramaphosa’s pledge to woo investors to help revive a struggling economy. Africa’s most industrialised economy has barely grown in the past decade with fiscal missteps and corruption contributing to weak business and consumer confidence. When are we discussing this stupid Foreign Direct Ivestment thing during apartheid?
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