SA Must Dread A Downgrade To Junk Status Like The Mamba


Mamba is a very deadly creature; its bite is a kiss of death. Everyone dreads it and wouldn’t want an encounter with the snake.

South Africa’s Chief Justice Mogoeng Mogoeng has analogized that the nation must avoid being downgraded to junk status by rating agencies like humans avoid the deadly snake.

The Chief Justice made the remark while he was delivering the annual Oliver Tambo Memorial Lecture in Johannesburg.

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He called on South Africans to work together towards saving the nation’s economy from possible decay.

“We have a collective responsibility as South Africans because this is the only country we have. Black and white South Africans (must) contribute to the development of this country and never assume that it is the responsibility of the government to do everything.

“…All of us cannot afford to be complacent; we still have a long way to go until we achieve all what is promised in the Constitution.”

He stressed the need for leaders to interact with business sector, potential investors and do all that’s needed for the sake of the economy.

“The economy of South Africa being downgraded to junk status should be avoided as much as one would avoid a mamba,” he said, and indicated that investors like investing in a politically stable country.

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With that, he admonished leaders that they could differ if necessary but not in such manner that portal the nation as unstable.

“If you do not want to be unfairly judged, why then can’t you be proactive? All of us are wise enough to tell whether what we do and what we say has the possibility to communicate the unintended message that there is or there might be political instability or unpredictability.

“Perception means just about everything to the global community…particularly the private sector. Extra caution in ensuring that you’re never suspected of what you are not is always called for,” Mogoeng advised.