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South Africa: SA Working on Accelerating Economic Growth
Source: www.sanews.gov.za
Source Date: Thursday, March 08, 2018
Focus: Knowledge Management in Government
Country: South Africa
Created: Mar 08, 2018

President Ramaphosa told the agency that the fresh consultations on the Mining Charter, recent measures to strengthen Cabinet, changes in the board and management of power utility Eskom and the inquiry into State capture form part of government’s invitation to investors to come to South Africa.

The President underlined government’s determination to build a social compact of government, labour, business and civil society to advance investment, youth employment and community development.

Furthermore, he reaffirmed that accelerated land reform will unfold within a clear legal framework and without negatively affecting economic growth, agricultural production and food security.

President Ramaphosa said job creation was government’s most important priority and failure to create such opportunities constituted the greatest risk to the country.

Moody's Investors Service is a provider of credit ratings, research and risk analysis. The meeting with the agency comes just two weeks before Moody’s is set to announce its latest outlook on South Africa on 23 March.

This was the first time the agency has interacted with President Ramaphosa since he was elected President on 15 February 2018.

In November last year‚ Moody’s placed South Africa’s long-term foreign and local currency debt ratings of ‘BAA3’ (one notch above junk status) on a 90-day review for a downgrade. - SAnews.go.za

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