
South Africa is currently sailing in uncharted waters. We are in the first week of a 21-day government enforced ‘lock-down’ to combat the spread of COVID-19. This decision will no doubt have a damaging effect on an already struggling South African economy in weeks and months to come. Added to this, the news broke on Friday evening that credit-rating agency Moody’s have pulled the trigger officially downgrading South Africa to sub-investment grade sovereign debt, or ‘junk status’.