The Industrial Development Corporation (IDC) has granted a total of R2.3bn in the form of loans and R562m as equity financing to black industrialists‚ Economic Development Minister Ebrahim Patel said Monday.
U.S. President Donald Trump's administration declined to name any major trading partner as a currency manipulator in a highly anticipated report on Friday, backing away from a key Trump campaign promise to slap such a label on China.
South Africa is digesting the news of Standard & Poor’s (S&Ps) downgrade of its state debt held in foreign currency following President Jacob Zuma’s March cabinet reshuffle. As the country deals with that blow, two other credit rating agencies (Fitch and Moody’s) will soon hold forth.
Ratings agency Fitch downgraded South Africa’s credit rating to sub-investment grade on Friday, saying a recent cabinet reshuffle that saw respected finance minister dismissed will likely result in a change in economic policy direction.