Busa hails recent progress into state capture, upgrade of SA’s rating outlook
Busa says the country has taken positive strides and this will help in restoring confidence.
JOHANNESBURG - Business Unity South Africa (Busa) says the country has taken a few key steps forward over the past week, including the arrest of critical players allegedly involved in state capture.
Five suspects appeared in a Johannesburg court on Friday in connection with fraud and money-laundering at Transnet.
They're accused of siphoning money from the parastatal to entities controlled by the Gupta family.
Busa says the country has taken positive strides and this will help in restoring confidence.
It's also noted the announcement by S&P Global that's upgraded South Africa to a positive sovereign rating outlook, although still leaving the grading in sub-investment status.
It says this is evidence that rating agencies will recognise positive interventions by government that begin to address the serious structural issues in the economy.
