Minister of finance Malusi Gigaba want South Africans to relax and stop panicking over the country’s junk status.
Gigaba says putting South Africa on junk status is the same as judging someone based on rumors before you actually meet the person. The minister says he will be going on a road show around the world to convince investors that South Africa is a good country to invest in junk status or not.
I won’t try to convince some stupid organisation to remove us from junk status i just want investors
Said the minister. “I’m planning to use the junk status to our advantage, The only think the junk status does is preventing us to borrow money from other countries and I we don’t intend to do that, We don’t wanna be indebted to other countries so here’s what we gonna do…We’re going to hike tax a little and make a few laws to force every South African to use a government-owned provident fund and pension fund so we can borrow their money for development”
“If that is not enough we will nationalize mines which is our last and possibly best resort”
The minister said citizens of South Africa need not worry about the junk status be he is the solution.