26.11.2020 05:53 pm
Moody’s Investors Service has now also taken rating action on seven South African local governments and two government-related issuers (GRIs).
The long term ratings of all rated municipalities were downgraded by one notch to reflect the deterioration in the operating environment, except Mangaung and its long term issuer rating was affirmed at Caa1.
Mboweni did not specifically mention the international Covid-19 consortium that South Africa is participating in.
Gerhard Schutte, CEO of the Red Meat Producers’ Organisation, said stronger beef, lamb and mutton prices were ‘good news for producers’.
The review is ‘limited to providing clarification on the scope of changes to the announcement related to the reclassification of inward-listed instruments’.
Among several incidents described as ‘audacious armed robberies’, in March a gang of 20 armed men stormed a gold plant 140km west of Johannesburg.
The new modus operandi is to throw petrol bombs from bridges onto trucks, as most of the burning trucks are found near bridges.
In real terms, rents are down by an average of 1.2% in the first nine months of this year.
Independent political analyst Ralph Mathekga said rating agencies were worried about the pace of South African reforms – particularly the ballooning public sector wage bill.
The key economic source of pressure on the rental market has been attributed to the long-term stagnation of growth in the South African economy.
This includes asset exchanges and platforms, brokers and advisors.
The union has encouraged CWU members and SABC employees to continue to embark on industrial action ‘until our demands are met.’
Nigeria’s economy was last in recession in 2016, its first in more than two decades. While it emerged in 2017, growth since then has been sluggish.
The government forecasts GDP to shrink 7.2 percent this year overall.
A quick fix for the minister of transport, who calls himself Mr Fixit, is to extend expired licences, but instead he announced other measures that will not speed up the process.
The vehicle sales industry in South Africa can help to restart the economy, but its efforts are severely hampered by the major delays in the transport department to license drivers and cars.