South Africa's credit ratings remain in junk status: Owen Nkomo gives more insight

South Africa’s credit ratings remain in junk status for a while longer. This after rating agency S&P kept the country’s long-term foreign and local currency debt ratings at ‘BB-‘ and ‘BB’, respectively.

The agency has retained a positive outlook on the country’s rating. It notes the higher-than-expected tax revenue, low foreign debt, and government’s economic and fiscal reforms as strengths, while the negatives noted include the ongoing fiscal pressures, poor infrastructure and the possible grey listing.

Inkunzi Wealth Group CEO Owen Nkomo is on Zoom to explain how the decision was arrived at and its implication for South Africa.

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