BUSISIWE MAVUSO: Upgraded credit rating by S&P Global boosts SA’s allure to investors
Structural reforms, the auction of mobile spectrum and Eskom restructuring have also increased appeal
Last week’s decision by S&P Global to revise its outlook for SA’s creditworthiness from stable to positive is the first clear change in direction by a ratings agency in several years of downgrades. I hope it marks the beginning of a recovery in the country’s credit ratings, leading it back to investment grade. It was testament to the achievements of the government in stabilising what had been a spiralling debt situation, that had all of us in business nervous that the state was headed for financial collapse.
The decision coincided with the World Economic Forum’s Davos meetings, at which the world’s decisionmakers from business, government and NGOs gather to discuss pressing issues. Of course, the war in Ukraine and rising inflation dominated the discussions, but thanks to rising commodity prices and the improved debt outlook SA has been popular among global investors...
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