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Exciting prospects for the newly downgraded Banks of South Africa! Not for all however, it’s time to start SAVING SA!
24th April 2017
“Where some fear to tread, others walk delightfully”
The credit downgrade on April 3rd left South Africa’s Banking industry wounded. With a large number of bonds and fixed instruments maturing the news could not have come at a worse time.
Currently the banks having a greater difficultly in obtaining financing, thus forcing their rates to rise. The trickle town factor leaves the already struggling low-income population to be exposed to the radical cost of living the most. But it’s not only them, hold onto your wallets tightly South Africa.
There is a vast amount of market noise regarding the impact of the credit downgrade. Apart from all the negative connotations with being downgraded, there is still light.
Although South Africa’s economy is struggling to grow within it’s targeted GDP%, it is still an emerging market. It is safe to say there are investors out there looking at the current situation as being advantageous.
This is always a pleasing factor to hear knowing that the Rand will not be tampered too much by political up-stir.
Credit downgrades result in riskier instruments. Higher yields, could provide incentive to overseas investors whom are looking for prosperous wealth.