Moody's believes that Ramaphosa's win as new ANC president is a good start to fighting junk status
In a statement released this week, Moody’s called Ramaphosa’s victory as newly elected president of the ANC “credit positive”. Though the ratings agency was careful not to insinuate that South Africa was in the clear, it did say that any new approach to any of the weaknesses in SA’s credit profile could boost business confidence and support a pick-up in investment and growth in the country.
During his campaign for the ANC presidency, Ramaphosa highlighted several issues that he wanted to address, which Moody’s said could change South Africa’s fortunes if implemented. The group further noted that it was unclear, however, whether Ramaphos has the political weight in parliament to implement such significant shiftS.
