SA authorities making their way to Rwanda
Govt officials are heading to a WEF meeting with a message that SA is confronting challenges head-on.
JOHANNESBURG - Deputy President Cyril Ramaphosa says a South African delegation is heading to Rwanda for the World Economic Forum meeting with a message that the country is confronting challenges head-on.
He says despite the current economic problems, government and business remain determined to find solutions.
Ramaphosa says amid a number of economic stumble blocks this year, South Africa remains open for foreign investment.
"We will also be showcasing that we're a country that's democratic, that has a robust democratic system and what I call durable institutions of government."
He is confident government will be able to clinch business deals with foreign investors in Rwanda.
Ramaphosa says the State is doing everything possible to avoid another credit rating downgrade before the end of the year.
This comes as ratings agency Moody's confirmed South Africa's credit rating at Baa 2 and adjusted the outlook from stable to negative.
The ratings agency said the ratings reflect the view that the country is likely approaching a turning point after several years of falling growth.
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