{"id":277177,"date":"2018-10-12T14:49:48","date_gmt":"2018-10-12T12:49:48","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=277177"},"modified":"2018-10-12T14:49:48","modified_gmt":"2018-10-12T12:49:48","slug":"south-africa-expected-to-get-a-moodys-reprieve","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/277177\/south-africa-expected-to-get-a-moodys-reprieve\/","title":{"rendered":"South Africa expected to get a Moody’s reprieve"},"content":{"rendered":"

Tito Mboweni is likely to get a boost at the start of his tenure as South Africa\u2019s finance minister, with Moody\u2019s Investors Service maintaining its rating on the nation\u2019s sovereign debt.<\/p>\n

That\u2019s according to Bank of America Merrill Lynch. Moody\u2019s, the only one of the three major credit-rating companies that still assesses South Africa\u2019s debt at investment grade, is scheduled to announce the review on Friday.<\/p>\n

\"\"<\/a><\/p>\n

Mboweni was appointed as the new finance ministers earlier this week, after president Cyril Ramaphosa accepted the resignation of former minister Nhlanhla Nene.<\/p>\n

The appointment settled markets after pressure and confusion mounted over Nene, following hid admission that he had previously lied about meeting with the Gupta family, who are at the core of state capture in the country.<\/p>\n

The move to replace Nene with Mboweni, and experienced veteran of finance and economic roles, was seen as a credit-positive move, which is what analysts will be reflected in the Moody’s announcement on Friday.<\/p>\n

Mboweni previously served as South Africa\u2019s minister of labour (1994 to 1998), governor of the South African Reserve Bank (1999 to 2009) and chancellor of North-West University (2002 to 2005).<\/p>\n

He is a member of the national executive committee of the African National Congress (since December 2012), a member of the strategic consultative committee of Total Oil Marketing (Africa and Middle East) and a member of the board of governors of the Asia Business School (Malaysia).<\/p>\n

With Bloomberg<\/em><\/p>\n

\n

Read:\u00a0Why Tito Mboweni\u2019s appointment is good news for South Africa<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Tito Mboweni is likely to get a boost at the start of his tenure as South Africa\u2019s finance minister, with Moody\u2019s Investors Service maintaining its rating on the nation\u2019s sovereign debt.<\/p>\n","protected":false},"author":10,"featured_media":137373,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[26],"class_list":["post-277177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/277177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=277177"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/277177\/revisions"}],"predecessor-version":[{"id":277189,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/277177\/revisions\/277189"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/137373"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=277177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=277177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=277177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}