Guiding consumers since 2009

Moody's: Strike could damage SA's reputation

By Staff Writer
Economists with Moody's Investor Services have warned that constant strike action in South Africa could severely tarnish country's reputation, especially after hosting the most economically successful FIFA World Cup in history.

Moody's Analytics, , a subsidiary of Moody's Investors Service, said that due to the labour unrest, which seems to be getting worse, the damage done to South Africa's reputation as an investment destitution could be lasting.
The credit ratings agency urged South Africa to keep business conditions stable in order to boost the country's global profile.

Civil servants recently went on a three-week strike demanding better wages and a higher housing allowance. The workers were asking for an 8.6% increase and a R1000 housing allowance. The strike has, however, been suspended and government sticking with its 7.5% wage increase offer along with R800 housing allowance.

In the biggest strike the country has seen since 2007, police had to take action with rubber bullets and water cannons as strikers turned violent, threatening those who were working and ignoring ailing patients. It's expected that the strike cost the economy around R1billion each day.

The strike had no impact on the South African bond, stock and currency markets, though and the Rand hit a 30-month high against the dollar on Monday, September 13 when the rand traded at 7.1550 to the dollar at 07:51.

Recent Articles

Featured Are you in debt denial?

With debt levels increasing at 13% more than income levels, South Africans are more debt-stressed now than arguably ever before. This is iterated by the National Credit Regulator’s (NCR) report that nearly half of credit-active consumers in South Africa have damaged credit records. However, only a few seek the necessary help.

Why should you invest in a mutual bank?

Often when people think about banking, they always think about commercial banks. Mutual banks hardly come to mind, but these banks offer investment opportunities that are often overlooked.

 

The benefits of assessing investments regularly

It’s common practice to assess your personal finances annually. But how often should you check in with your investments? We found out from an industry expert when you should assess your investments and how to go about doing so.

Thinking of skipping your debit order payments? Don’t!

When you’re under financial strain, it’s easy to fall in the trap of skipping your payments thinking you’ll cover them next time. But the truth is there’s no guarantee that your next time will be different from your current. So, by postponing your payments you might be sabotaging yourself. Here’s why:

 

Deals

Free Juice at Botany Café

Price: R85
When: Daily
Where: Cape Town

Clicks Valentine’s Day Specials

Price: Available on request
When: Until 19 February
Where: Nationwide

Mozambik Valentine’s Dinner Special

Price: R550
When: From 14-16 February 202
Where: Nationwide