Zuma meets with Gigaba, Kganyago over junk status recovery

President Jacob Zuma says that engagements with all social partners will continue 'because we make progress and find solutions when we work together'.

President Jacob Zuma at the Local Government Summit in Midrand. Picture: Kgothatso Mogale/EWN

JOHANNESBURG – President Jacob Zuma says he’s met with the Finance Minister and his deputy, as well as the Reserve Bank Governor and South African Revenue Service (Sars) Commission to discuss the impact of the credit rating downgrade and how they should respond.

The president on Monday addressed the 24th anniversary of the death of South African Communist Party (SACP) leader Chris Hani, who was shot and killed outside his Boksburg home in the run-up to the first democratic elections.

Credit ratings agency Fitch and Standard & Poor’s Global last week downgraded the country’s credit rating to junk status, citing political instability.

Zuma says there’s a need for unity now.

“The Finance Minister has been engaging the business community. Engagements with all social partners, including labour, will continue because we make progress and find solutions when we work together.”