The financial decline that continues in South Africa has given the business sector reason to become more concerned about future business activities in most business areas. Gross Domestic Product (GDP) declined by 0.6% in the third quarter of 2019, according to the Statistics Service’s report. Calculated on a year-to-year basis, this is seen as a..
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ANC regime has driven SA to junk status – GDP drops by 0.6% in 3rd quarter – SA is going to struggle to get rid of its economic crisis
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Junk Status looms – Implementation of NHI will have disastrous consequences for SA economy
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AfriForum today sent a letter to President Cyril Ramaphosa, Finance Minister Tito Mboweni and Minister of Health Zweli Mkhize warning the civil rights organization that the implementation of national health insurance (NHI) could eventually lead to the downgrading of the country’s credit rating to junk status . This comes after the credit rating agency Moody’s..
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Pull the generator closer and get those candles ready, Eskom #rollingblackouts will be with us shortly
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Eskom expressed its disappointment over the decision of the rating agency Moody’s that further downgraded the bankrupt entity of the state. The Moody’s Investment Service downgraded Eskom from a B2 to a B3, which means the entity has no confidence in consumers or the rating agency. With the downgrade, Eskom is brought into line with..
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SA, the country once known as the most prosperous one on the African continent, is downgraded by Moody’s to position near to junk status
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While Cyril Ramaphosa delights in the Rugby players’ victory in Japan, Moody’s downgraded the country’s financial position near to junk status. In the next 12 to 18 months, the Ramaphosa regime will have to implement good plans otherwise there will be another major setback for the country that was once known as the most prosperous..
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What could happen to the rand if Moody’s downgrades South Africa to sub-investment grade
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South Africa is preparing itself for the possibility that Moody’s may downgrade the country’s sovereign credit rating to sub-investment grade. Moody’s is currently the only major ratings agency that has South Africa at investment grade – one notch above junk – with a stable outlook. The country has been rated below investment grade since 2017..
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ANC regime threatens financial survival of SA, Government debt increases every day
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The ANC government is extremely dangerous and threatens the financial survival of South Africa, as its eagerness to lend remains unsaturated. This is the opinion of an economic adviser following the SA Reserve Bank’s announcement that government debt is rising faster than provided by any institution. The government’s total loan debt has risen to a..
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The Rand remains on a rollercoaster of volatility -the currency continued to weaken due to the heightened global growth risks after talk of financial bailout for Eskom
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Last week’s poor global data is indicative of a worldwide economic rough patch. Talk of another massive financial bailout for Eskom has put South Africa on thin ice with Moody’s. The country is said to be fighting a losing battle to keep its last remaining investment grade credit rating. Foreigners have already begun dumping R2..
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Junk status winks for Mangaung Metro with liabilities exceeding assets; officials receive generous salaries and cellphone stipends, while levels of service delivery are non-existent
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The ANC-controlled Mangaung Metro faces junk status after Moody’s rating agency said further downgrading would be considered if the municipality do not urgently get its household in order. The Bloemfontein municipality is in truth already bankrupt with liabilities exceeding assets of nearly R1bn and with over R6bn of outstanding debt. In fact, Moody’s indicated..
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How is this even possible:- Eskom posts R2.3bn loss, R19bn in irregular expenditure
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Eskom suffered a net loss of R2.3-billion in 2018, the state-owned power producer revealed at it financial results presentation on Monday.
The power utility said its net cash from operations declined from R45.8-billion to R37.6-billion, as it struggled with leadership and operational challenges.
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Why Zuma’s free higher education plan will cripple SA’s finances
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The country’s fee-free higher education initiative, controversially introduced by President Jacob Zuma in the dying weeks of 2017, will plunge the country into a deeper financial crisis if it isn’t adjusted one way or another. Days after Zuma made his surprise announcement, Ramaphosa was elected president of South Africa’s ruling party, the African National Congress…
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Junk status looms after mid-term budget fails to inspire confidence – It is not looking good for SA
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Economists have warned that South Africa could be in line for a credit downgrade to junk status – possibly before the end of the year. Their fears come in light of Malusi Gigaba’s mid-term budget speech, delivered to parliament on Wednesday. “It is not in the public interest, nor is it in the interests of..
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