South Africa: Ramaphoria Has Taken Hold of the Otherwise Serially Depressive S&P Global Ratings

analysis

In more than a year South Africa has gone from Ramaphoria, the burst of optimism about South Africa that was unleashed after the election of President Cyril Ramaphosa, to a sobering reality of political and economic crises. However, credit rating agency S&P Global Ratings is on a Ramaphoria high, expecting South Africa's economy to grow by 1.6% in 2019. Meanwhile, economists expect growth of less than 1%.

When Cyril Ramaphosa became State President in February 2018, his arrival to Pretoria's Union Buildings unleashed a surge of positive sentiment and investor confidence across the country.

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