What South Africa’s reshuffle to 'junk status' means for your pension fund

Standard & Poor’s has downgraded South Africa's sovereign credit rating to “junk” status, citing “political and institutional uncertainty” following Jacob Zuma’s Cabinet reshuffle.

What does this mean for your pension fund?

Arabile Gumede (in for Bruce Whitfield on The Money Show) interviewed ZAR-X CEO Etienne Nel.

Listen to the interview in the audio below (and/or scroll down for quotes from it).

The banks cannot have a higher credit rating than the country. This means there’s an increase in the cost of capital for everybody.

Etienne Nel, ZAR-X

Your monthly car payment; your home loan payment; these all will cost more.

Etienne Nel, ZAR-X

We want clear, stable policy!

Etienne Nel, ZAR-X

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Article brought to us by Old Mutual.


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