Africa In The News

Kenya could lose assets to China over debt, global ratings agency Moody’s says

JOHANNESBURG, November 27 – Global ratings company Moody’s Investor Service has warned that Kenya is among countries at the highest risk of losing strategic assets to China over the pile of debt it owes Beijing. In its newly released report Moody’s said that China’s response to sub-Saharan African countries facing liquidity pressure had not been […]

Africa Business In The News South Africa

China lending to sub-Saharan Africa can support growth, but brings risks – Moody’s

JOHANNESBURG, November 15 – China’s increased lending to governments in sub-Saharan Africa has the potential to support economic growth, but also amplifies credit risks for countries with high debt, ratings agency Moody’s has said. “Unless African investment financed by Chinese loans generates substantial economic gains that boost debt servicing capacity of sub-Saharan African governments, the credit […]

Business In The News South Africa

Land, mining uncertainty threatens South Africa’s growth – Moody’s

Johannesburg, June 26 – International rating agency, Moody’s, on Tuesday said uncertainty around land and mining reforms might hinder South Africa’s growth. Moody’s Analyst and Senior Credit Officer, Lucie Villa, said in a research report in Johannesburg that the reforms had remained a concern for investors. Villa said that weak business confidence could limit the […]

Business In The News South Africa

Moody’s says monitoring policy implications of SA leadership changes

JOHANNESBURG, February 15  – Moody’s said on Thursday it was closely monitoring developments in South Africa after President Jacob Zuma’s resignation, and was focused on the policy implications of ongoing changes in the country’s leadership. “The key point from a credit perspective will be the new leadership’s response to the country’s economic and fiscal challenges and progress in implementing reforms addressing […]

Business In The News South Africa

Moody’s downgrades Steinhoff 4 notches in fallout from accounting irregularities

JOHANNESBURG, December 8 – Moody’s said on Thursday it had downgraded the credit rating of retail holding group Steinhoff by four notches to B1 from Baa3 and put it under review for further downgrade over accounting irregularities. “The downgrade of Steinhoff’s ratings and review for further downgrade reflect the uncertainties and implications for the company’s liquidity and […]

Business In The News South Africa

Price pressures from petrol, electricity to prevent interest rate cut

JOHANNESBURG, November 23 – South Africa’s central bank is likely to keep interest rates unchanged despite a struggling economy when it concludes its last policy meeting of the year on Thursday, hamstrung by looming inflation pressures from rising energy prices.     The Reserve Bank’s monetary policy committee, which is chaired by Governor Lesetja Kganyago and […]