Back in 2008, the US found itself in a financial crisis comparable to the Great Depression. At this tender time in the South African economy, with fluctuating markets and political uncertainty clouding the nation, could the poorest South Africans be led into financial demise? Cyril Ramaphosa has been elected president of the ANC and the country, but the rand has been trading as if Zuma has been out of office for some time. Since 24 January, the rand has been at a level last seen in February 2015, trading below R12 to the dollar. Economic analysts believe that having Ramaphosa in office will have a positive effect on SA’s global credit ratings. So things are looking pretty good for SA’s economy. But, is it really? Political parties are scrambling to get as much leverage as they possibly can ahead of the 2019 elections. The timing of the draft National Credit Amendment Bill is worth noting. With more than 10-million South Africans struggling to service their debt, it appeals to the ma...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.