Monthly Archives: June 2017

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Government meddling with central bank Independence Could Drive SA Deeper into Junk Status

Credit rating firm S&P Global warned South Africa on Tuesday that its rating could be cut deeper into junk territory if the government meddles with the “critical” independence of the country’s central bank. A row over the South African Reserve Bank has escalated this week after the head of the country’s constitutionally-mandated anti-graft watchdog called [...]

By |June 30th, 2017|Blog|0 Comments

Intriguing Facts About Loans For Candiates With Bad Credit

Many of us face unforeseen problems due to bad credit from time to time and with it comes the feeling of being lost as you are not able to come out of an emergency situation. For those in these dire straights, there may be hope as they could still be eligible for getting the assistance [...]

By |June 22nd, 2017|Blog|0 Comments

2017 Repo Rate Cut Back Expected From The Reserve Bank

The latest financial reports indicate that South Africa’s economic growth will be much softer this year after the country slipped into recession in the first quarter, and with inflation easing an interest rate cut is back on the agenda, a Reuters poll found. Africa’s most industrialised nation is expected to expand 0.7% in 2017, 0.2 [...]

By |June 18th, 2017|Blog|0 Comments

Finance Minister Announces Plans For Further Budget Cuts

South Africa’s Finance Minister Malusi Gigaba said on Thursday the Treasury was looking for ways to cut government spending further and reallocate funds to help boost growth while maintaining its fiscal target. Gigaba, who was appointed as finance minister in March after President Jacob Zuma sacked Pravin Gordhan, a favourite of international investors, is battling [...]

By |June 17th, 2017|Blog|1 Comment

National Credit Regulator Sees Rise of Recession Ahead

South Africa could see a spike in bad loans as the first recession since 2009 hits millions of chronically indebted consumers struggling to pay back credit totalling R1.7 trillion ($133.19 billion), the National Credit Regulator (NCR) said on Wednesday. Africa’s most developed economy slipped into recession in the first quarter, compounding a slew of negative [...]

By |June 17th, 2017|Blog|0 Comments

Moody’s Downgrades South Africa’s Credit Ratings

International rating agency Moody’s on Friday downgraded the country’s long-term foreign and local currency debt ratings by one notch from Baa2 to Baa3, with a negative outlook, keeping it at investment grade which further compounds South Africa's depressed economic status since the S&P announcement recently. Note: To find out more on the S&P junk status [...]

By |June 10th, 2017|Blog|12 Comments