South Africa on the cusp of a ratings upgrade, but more needs to be done: BofA
By Tawanda Karombo | Published Nov 7, 2024
South Africa lost its Fitch and S&P investment grade status in 2017 before Moody’s weighed-in in 2020. Various factors contributed to this, including governance weaknesses, lack of reforms leading to negative per capita growth performance and weakening public finances.