Sacci raises S&P downgrade concerns with Presidency
The chamber has in the past highlighted the importance of sending the right political and fiscal signals to potential investors.
CAPE TOWN - The South African Chamber of Commerce and Industry (Sacci) says it has raised its concerns with the Presidency following the downgrade by S&P Global.
S&P Global announced on Monday that the changes in the executive leadership, including the removal of Pravin Gordhan as Finance Minister, posed risks to the country’s policies.
Sacci president Zeph Ndlovu says they have in the past highlighted the importance of sending the right political and fiscal signals to potential investors.
“We’ve sent our displeasure and concerns through to the Presidency. And moving forward we want to make sure that we’re part of the team that will rally around making sure that we regain our foothold as a country that can be trusted in international markets.”
(Edited by Zamangwane Shange)