‘SA-UK relationship a long term one despite downgrades’
British High Commissioner to South Africa Nigel Casey says SA and the UK have a two-way street relationship in terms of investment.
JOHANNESBURG - The British High Commissioner to South Africa Nigel Casey says London’s relationship with Pretoria is a long term one that will endure through good and bad, even if SA is downgraded again.
Credit rating firm S&P Global warned on Tuesday that South Africa's rating could be cut deeper into junk territory if government meddles with the "critical" independence of the Reserve Bank.
S&P stripped SA of the coveted investment grade rating in April after the sacking of then finance minister Pravin Gordhan.
Casey said, “The standard feature of the South Africa-UK relationship is a long term one. We’re deeply invested in this country and its future, over a third of foreign investment in this country still comes from the UK and South African companies have invested more in the UK, so it’s a two-way relationship.”