Rating agency Moody’s says the current land debate is creating policy uncertainty in the country.
Addressing the media in Johannesburg, Moody’s Senior Credit Officer Lucie Villa says investors are more interested in how the land reform will be carried out.
Moody’s is hosting its Sub-Saharan Africa summit in Johannesburg on Thursday.
Moody’s is the only rating agency still holding South Africa above ‘junk status’.
Villa explains: “Until we get the detail, it is very difficult to say, until the law is proposed there is policy uncertainty – in particular, foreign investors would like to know if they are going to stick to their word… But without details is very difficult to say.”