Ramaphosa could save South Africa from downgrade, says Moody’s

Moody’s published a cautious note on Tuesday in response to “business-friendly candidate” Cyril Ramaphosa’s slim victory in South Africa’s African National Congress (ANC) presidential elections on Monday. But the agency acknowledged that, if implemented, Ramaphosa’s reform priorities could “begin to address the weaknesses flagged” when the agency put South Africa on review for downgrade.