— South Africa has escaped a ratings downgrade by Moody’s, but the agency has retained its negative outlook, putting pressure on the country to revive its economic growth rate and create a healthier climate for investment.
The Moody’s decision, which came after the rating agency put SA on review for a downgrade earlier this year, has been widely welcomed. But there is concern that Fitch and Standard & Poor’s may downgrade SA to subinvestment grade, or junk status, in their reviews due early next month. (Business Day)
–The ANC’s top leaders have foiled a plan to oust embattled KwaZulu-Natal Premier Senzo Mchunu, warning the plotters that a major reshuffle in the provincial government would destabilize the province.
City Press has learnt that provincial ANC chairman Sihle Zikalala had last month tabled a proposal to the ANC’s top officials in Cape Town — and later, to an extended national working committee — to have Mchunu removed from his position, particularly because he had lost the party’s provincial chairmanship. (City Press) Enditem