Fitch, the international credit ratings agency, has left South Africa’s credit rating at BB-. It also said that this rating was stable, meaning it is unlikely to change in the near future.
The group said that while loadshedding would possibly ease this year concerns were raised over South Africa’s fiscal situation and South Africa’s ballooning debt.
It also said that the South African economy grew by about 0.5% in 2023 and would grow by 0.9% in 2024 and 1.5% in 2025.
Fitch said that it was likely that the ANC would lose its majority in this year’s election but that this would be unlikely to result in any major policy changes.