ANALYSIS: Time is not on South Africa’s side By Stephen Grootes
After that, it will take some time to get back up on the rating agencies’ ladders and reverse the process. Konrad Reuss, the head of S&P in South Africa, said this week that it takes about seven to eight years to get an investment rating back. And his agency is looking at downgrading us further from investment-grade than it already has.
On paper, and in public, Ramaphosa is doing his best to talk up what will happen in the next few weeks. He has trumpeted the SA Investment Conference as showing that more money is coming into the economy. He has claimed, repeatedly, that those involved in State Capture will be charged. He claimed at his inauguration that his administration would defeat poverty within a generation.
Those implicated in State Capture walk around free, in some cases developing astonishing powers of prediction to the point where they can tell the Zondo Commission they will be ill aThis week marks a full year since the VBS scandal broke and it was revealed how much money was stolen. Despite a meticulous report compiled by an advocate with information from the Reserve Bank, and many investigative reports implicating some of SA’s most powerful people, not one person has been charged.
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