Ramaphosa’s speech underscores weak South Africa credit outlook – Fitch

February 17, 2020 Siyabonga Mtangana

South Africa – Cape Town – 13 February 2020 -President Cyril Ramaphosa deliver the State of the Nation Address before a joint sitting of the two houses of Parliament. Since it is a Joint Sitting of both Houses, the Speaker of the NA and the Chairperson of the NCOP host the event. All the three (3) Arms of the State, namely; the Legislature, the Executive and the Judiciary attend this event. It is one of the rare moments whereby all three Arms of the State meet in one place. The theme for this year’s SONA is the same as that of the sixth Parliament: “Following up on our commitments: making your future work better.Photographe:Phando Jikelo/African News Agency(ANA)

JOHANNESBURG – South African President Cyril Ramaphosa’s state of the nation address offered only partial detail on key policy areas like the electricity sector and underscored a weak outlook for the country’s creditworthiness, Fitch Ratings said on Friday.

Ramaphosa said in the annual address on Thursday that South Africa had to fix its strained public finances and procure more renewable energy to ease crippling power shortages.

But he was short on specifics that may have reassured investors his government had a clear plan to solve the deep-seated structural problems in Africa’s most industrialised economy.

Source: iol.co.za

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