Last week South Africa narrowly averted a downgrade to junk status or sub-investment grade by Standard & Poor’s. This reprieve will give policymakers, business and consumers some breathing room, but the country continues to face serious obstacles toward creating a sustainable, robust and more dynamic investment climate.
In this episode of Candid Business, Ellis Mnyandu talks to Grant Thornton Pretoria’s managing partner, Johan Blignaut, about his company’s latest survey showing that nearly two-thirds of South African business executives (60%) are delaying their investment decisions, while almost half are considering investing offshore (49%), due to uncertainty regarding the future political direction of the country.
