Deputy President Cyril Ramaphosa says government is doing everything it can to avert a possible further downgrade of South Africa to junk status by rating agencies.
He told guests at an ANC gala dinner in Polokwane on Saturday evening that South Africa’s struggling economy could attract more investors, particularly in the marine sector, by unlocking investment doors for investors and averting a further downgrade by rating agencies.
South Africa had been included among those countries facing a possible further downgrade by rating agencies, after Brazil’s recent downgrade to “junk status”.
Ramaphosa said government was putting greater effort into boosting the economy.
The Operation Phakisa and black industrialists’ programs are part of the arsenal to fight economic decline and attract investors.
The ambitious economic development programs were launched a year ago to promote opportunities that could accelerate job creation and grow the economy.
