Confidence in the economy of South Africa is on a weekly basis weakening and turning into distrust.
Following the downgrading last month by Moody’s of South Africa’s foreign and domestic debt to just beyond junk status, and the subsequent downgrading of five local banks including some state entities, the following shock hit the sector with the credit downgrading of Eskom, Sasol, MTN And ACSA (the airport company of SA).
Economists are beginning to mention that the South Africa’s economy is in a “free fall” and that there is no longer any control over it.
Read the original article in Afrikaans on Die Vryburger
South Africa Today – South Africa News