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S&P cites intense rolling blackouts as it downgrades SA's outlook - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Ratings agency S&P has downgraded its outlook on South Africa to stable from positive, citing the intense rolling blackouts and other infrastructure constraints.

Image: ReutersRatings agency, citing the intense rolling blackouts and other infrastructure constraints.

The local economy contracted by 1.3% in the fourth quarter of 2022, more than markets expectations, mainly due to the electricity crisis. Without speedy resolution to the challenges, it’s expected the economy will be in recession in the first quarter.

 

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