Banking On The Football Cup

September 2008 | Ratings Update

In our view, Thabo Mbeki's early resignation on September 20 will significantly accelerate the transformation of South Africa's political landscape over the coming year, with rising short- and longer-term risks to political stability and policy continuity lying ahead. Although the recent acquittal of Jacob Zuma on corruption charges decreased the risk of violent protests and therefore merited an increase in our short-term political risk ratings, Mbeki's ousting has elevated the threat of snap elections and even a break-up of the African National Congress (ANC) into two parties. Against this backdrop, we have decreased our short-term political risk rating from 65.0

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