Gogos would not forgive a ratings downgrade
When poor credit ratings translate into hungry children, black rural women will know who to blame at polls, Wiphold chairman Gloria Serobe tells Chris Barron
Gloria Serobe, co-founder and executive director of the R3-billion women's investment group Wiphold (Women Investment Portfolio Holdings), has a message for the government: If South Africa is downgraded and it is explained to women in rural communities in language they can understand why the price of bread has suddenly doubled, or why their chief breadwinners have lost their jobs on the mines, or why "everything is now melting", they will know what to do come the elections in 2019. "That conversation we are not having with them," she says. "We're talking credit ratings, we're talking downgrades, we're talking currency falls - none of this means anything to them because we are not translating it into language they can understand in terms of their daily lives. "If we are downgraded, we're going to be forced to have those conversations because everything will be melting. We're talking about communities that cannot absorb any more hardship, but now you are loading them with more hardshi...
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