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South Africa: Ratings Agency Downgrades Credit Rating to 'Junk' Status
March 5, 2017--April 3, 2017--The credit ratings agency Standard & Poor's has downgraded South Africa's foreign currency sovereign credit ratings to below investment status.
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Source: AllAfrica.com
JSE assets tumble as Zuma dodges calls to step down
April 5, 2017--South African bonds and the rand have fallen after President Jacob Zuma is said to have bolstered his position by fending off calls from senior ruling party officials to quit.
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Source: FIN24
Rand cheers call for Zuma to quit
April 5, 2017--News of increased opposition to President Jacob Zuma resulted in the rand firming to an intraday high of R13.52/$, pushing off the morning lows by +3%.
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Source: FIN24
IMF-Nigeria: Selected Issues
April 4, 2017--INTRODUCTION
This Selected Issues Paper contains five chapters that examine the role of lower oil prices in explaining the deterioration in Nigeria's recent macroeconomic indicators; the impact on corporate and financial sector performance; and the forward-looking aspects of promoting job-intensive growth and strengthening State and Local Government finances.
While the slump in oil prices contributed to sluggish growth, the lack of foreign exchange weakened corporate performance,
increasing the likelihood of non-performing loans.
view the IMF Country report-Nigeria: Selected Issues
Source: IMF
Gold shares glimmer among gloom as banking sector battered on JSE
April 4, 2017--Investors in gold shares have received an unexpected bonanza from the country's political turmoil, after S&P downgraded South Africa's credit rating to junk status.
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Source: FIN24
Rand keeps falling as Moody's places SA on downgrade review
March 4, 2017--The rand is edging down to R14/$ after S&P demoted South Africa to junk status and Moody's placed it on downgrade review.
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Source: FIN24
Resources, gold up while banking shares continue decline on JSE
April 3, 2017--Banking shares have continued their decline although losses were somewhat slower, while resources and gold shares made good gains as the rand weakened further.
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Source: FIN24
Rand roils as S&P downgrades SA
April 3, 2017--The rand has continued to weaken as political uncertainty forced the hand of credit ratings agency S&P to downgrade South Africa's long term foreign currency rating.
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Source: FIN24
JSE bloodbath as SA's top four banks plunge more than 5%
March 31, 2017--Shares in SA's top four banks plunged more than 5% in early trade as JSE investors started dumping stocks with big exposure to the South African economy.
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Source: FIN24
Rand hits R13.60/$ as it continues freefall on Gordhan axing
March 31, 2017--The rand headed for its biggest weekly slide since 2015, after the firing of Finance Minister Pravin Gordhan raised concerns about SA's fiscal path and its credit rating.
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Source: FIN24
