Cabinet reshuffle and what this means for Investors
By now the news of the latest Cabinet Reshuffle by President Jacob Zuma has been digested and 31 March 2017 may go down in history as South Africa’s Black Friday. As we have learnt in the past, changes to the South African Finance Ministry creates pandemonium in the short-term. This is especially true if the incumbent does not have a strong reputation and there is a lack of confidence in the individual. An added dimension to this is the dark cloud of a credit downgrade from the Ratings Agencies that continues to hang over us.