Ratings agencies ‘happy with SA’, but Zuma crowd stymie Cyril

ALL three major sovereign credit ratings agencies had given South Africa’s February budget a positive reception, while also welcoming recent political changes, Finance Minister

Nhlanhla Nene said from London. Nene, business representatives and a team from the Treasury and the Reserve Bank met Fitch Ratings, S&P Global and Moody’s, as well as bond investors, in the British capital this week.

THE RMB-Bureau for Economic Research business confidence index showed an 11-point jump from a level of 34 in the fourth quarter of 2017 to 45 points in the first quarter of 2018. It was still on the pessimistic side of 50 points, but a rise of such magnitude was rare, RMB said.

MINING production grew 2.4% in January from the same month in 2017 — more than double the 1% growth expected by economists. December’s figure was revised from growth of 0.1% to a contraction of 0.5%.

PRESIDENT Cyril Ramaphosa was dealt a political blow after a last-minute legal challenge by a group loyal to former president Jacob Zuma blocked the signing of renewable energy deals worth more than $4.7-billion (R55billion).

NAMIBIA reported the country’s first case of listeriosis after a patient was admitted to hospital with the disease in Windhoek this week. Last week, the country suspended imports of processed meat from South Africa, where 183 people have died and more than 1 000 have been infected in the world’s biggest listeriosis outbreak on record.

FORMER president Jacob Zuma spent R15.3-million of taxpayers’ money on his legal battles to avoid prosecution, President Cyril Ramaphosa disclosed. Ramaphosa revealed this information in a bid to settle legal action brought by the DA over Zuma’s refusal to disclose his legal fees in what is known as the spy tapes case.