Task team aimed at improving SA’s investment status to be set up

Fedusa, Cyril Ramaphosa and business leaders say plans have been made to pave a way forward.

Picture: EWN.

JOHANNESBURG - The Federation of Unions of South Africa (Fedusa) says a meeting with Deputy President Cyril Ramaphosa and business leaders has ended with an agreement to set up a task team aimed at improving the country’s investment status.

Rating agencies Fitch and S&P Global have downgraded South Africa to junk status following President Jacob Zuma's Cabinet reshuffle.

A special national economic development and labour council meeting held in Johannesburg on Tuesday was convened to address the national crisis.

Fedusa’s Dennis George says plans have been made to pave a way forward.

“We will continue with the programme we started to design when Pravin Gordhan was the minister of finance ... The issue of one million jobs for young people with low skills and the investor roadshows, so we can continue to strengthen the engagement with ratings agencies to brief them on a specific development happening in the country.”

(Edited by Winnie Theletsane)