Tags: africa, african, africans, banks, credit, downgraded, lesiba, moody, mothata, news, reacts, sa, south, special, worth
Categorised in: Breaking News
The downgrade of the top five SouthAfricanbanks’ ratings will lower SouthAfrica’s creditworthiness and make financing harder and more expensive to source. That’s according to the Banking Association of SouthAfrica. The organisation says the move will have knock-on effects for all SouthAfricans, especially the poor.