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Ramaphosa is on a roll – and it's boosting South Africa's markets cbn.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cbn.co.za Daily Mail and Mail on Sunday newspapers.
Naspers subsidiary Prosus fell 2.5 percent on the JSE to R1 424.33 yesterday in spite of announcing a $1.8 billion (R24.4bn) deal to acquire the online learning company Stack Overflow. ....
Ratings agencies S&P and Fitch kept South Africa s sovereign credit ratings unchanged. Fitch notes that state finances have improved substantially, but doubts that government will succeed in freezing public wages. S&P says the slow pace of reforms and the limp vaccination drive are big risks. Both S&P Global Ratings and Fitch decided not to cut their rating of South Africa deeper into junk on Friday, with the latter noting that South Africa’s state finances have improved substantially , despite continued substantial risks to debt stabilisation . In November last year, Fitch expected that government’s budget deficit would come in at 15.5% for last year – instead it only reached 11.1%. This was thanks to stronger-than-expected tax income and a freeze in public sector wage hikes. ....
Daily Maverick 168 weekly newspaper. The National Income Dynamics Study Coronavirus Rapid Mobile Survey revealed that of the three million South Africans who lost their jobs between February and April 2020, two million were women. Pat Magadla, senior business development manager at Old Mutual Investment Group, says this is particularly a risk for single-income families in South Africa, who are most likely headed by a single mom. “Not only are women at a serious economic disadvantage to start with; single mothers in particular also shoulder enormous responsibility for the wellbeing and financial security of their families – with little or no help,” says Magadla. ....