Corruption at SOE's and Zuma's leadership will influence ratings agencies

Deputy President Cyril Ramaphosa has indicated that he will meet with ratings agencies next month to assure them that Government is working towards a stable labour environment. This after he announced a R3 500 minimum wage.

Chief executive at Pan African Holdings, Iraj Abedian spoke to Ray White (standing in for Stephen Grootes) about some of the factors ratings agencies will look at.

They will look at government finances and asking is government living within it's means and is it using limited resources to deal with poverty and infrastructure.

Iraj Abedian, Executive Chairman at Pan-African Capital Holdings

State enterprises which shows fiscal sustainability is in absolute chaos if you look at the SABC and Eskom. Zuma says he knows of corruption but he hasn't dealt with issues. We keep putting process upon process and hoping that process will resolve issues.

Iraj Abedian, Executive Chairman at Pan-African Capital Holdings

Ratings agencies are going to say how much time do you need to clean up the board at Eskom, SABC or anywhere else where abuse is taking place.

Iraj Abedian, Executive Chairman at Pan-African Capital Holdings

Abedian said National Treasury has done a good job and will be comfortable telling their side of the story to ratings agencies.

Listen here to what Abedian has to say about the National Prosecuting Authority (NPA) and it's poor governance issues.


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