ANC hails credit rating upgrade as sign of economic success

The ANC says South Africa’s recent credit rating upgrade is a clear sign that government efforts to stabilise the economy are beginning to pay off.

S&P Global Ratings recently improved the country’s credit rating, the first such upgrade in two decades.

The agency attributed the move to stronger revenue performance and progress in building a more competitive public and private sector environment.

Speaking at a media briefing on Saturday, ANC National Executive Committee member David Masondo welcomed the upgrade.

"They’ve made an assessment on our fiscal performance and it’s very clear that we are on the right course, and it’s for this reason that we got this upgrade," Masondo stated.