Is “junk” status as bad as is made to sound?

By Mpho Ramonotsi Below is one of the submissions for the Think For Yourself competition which, although did not win the competition, the Black Opinion Editorial Collective felt was thought-provoking and generally compelling. Most comments and analyses regarding state capture by the Guptas, the Ruperts and ratings agencies is all bad news. ANC has allowed …

National Treasury responds to banking scandal

By BO Staff Writer The National Treasury has finally responded to the biggest scandal of the year – banks unethically meddling with the rand/dollar currency pricing. The Competition Commission has referred ABSA, Standard Bank, Investec, and 14 international banks, to the Competition Tribunal for prosecution. The flaccid statement by the Treasury, headed by Finance Minister …

South Africa is Ruled by Rating Agencies

By Andile Mngxitama South Africa is being ruled by three credit rating agencies – Fitch, Standard and Poor’s (S&P) and Moody’s. Fitch, which is owned by one of America’s largest diversified media companies – Hearst, has its headquarters in both New York City and London while S&P and Moody’s are based in America. Their legislative …

Is Treasury Sabotaging the Economy of South Africa?

By Andile Mngxitama South Africa’s inter-governmental wars have reached a new plateau with the announcement by Futuregrowth that it is suspending “any additional loans” to some of the biggest (state owned enterprises) SOEs. In particular Futuregrowth has identified the following entities as its first targets: Eskom, Transnet, Sanral, Landbank, IDC and DBSA. This move is …