Standard & Poor's Global Ratings has again downgraded SA's foreign and local currency ratings by one notch each to BB and BB+ respectively.

The downgrading of South Africa's debt to junk status and the firing of Pravin Gordhan as finance minister mean that interest rates will be on hold until 2020 at least, a poll of economists predicted yesterday.

With South Africa and Nigeria being Africa’s two biggest economies, the recent credit rating downgrades by global ratings agencies, will negatively affect both nations and hit Africa’s overall economic growth.

The National Treasury has welcomed the decision by ratings agency Standard and Poor (S&P) not to downgrade South Africa. 

Investors might be in a rush to see the back of 2015. Despite a dispirited Alsi, the property sector presents signs of good health.

Monday, 29 June 2015 14:43

UAE property market set to decline

UAE property market is set for a soft correction after three years of sharp rises but a crisis is ruled out, says Standard & Poor's.

Most Popular

Exemplar REITail Acquires Katale Square Shopping Centre

Sep 23, 2019
 JASON MCCORMICK
Real estate investment trust, Exemplar REITail, has acquired Katale Square shopping…

Mall of Africa Celebrates Launch of New Generation Pick n Pay Store

Sep 23, 2019
 MOA PNP  1
Today Mall of Africa welcomed one of South Africa's biggest grocery retailers to the…

Grit Real Estate financial results for the year-ended 30 June 2019

Sep 30, 2019
 BRONWNY CORBETT
London Stock Exchange listed Grit, the only listed Africa-focused income distribution…

4AX listed Heartwood Properties reveals positive financial results

Sep 23, 2019
 JOHN WHALL
Commercial property development company, Heartwood Properties , has revealed a 30%…

Reserve Bank keeps repo rate unchanged

Sep 23, 2019
 LESETJA KGANYAGO
 South African Reserve Bank Governor Lesetja Kganyago on Thursday said this is in line…

Please publish modules in offcanvas position.