‘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.

Picture: AFP.

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.

It follows Public Protector Busisiwe Mkhwebane's call for the bank to focus on growth more than maintaining currency and price stability.

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.”