Moody's Investors Service has changed the outlook on the Government of South Africa's ratings to negative from stable and affirmed the Baa3 long-term foreign-currency and local-currency issuer ratings.
Nairobi-based online payment service provider Direct Pay Online (DPO) has acquired PayFast, a payment processor based in South Africa.
Fitch Ratings has revised the Outlook on South Africa's Long-Term Foreign-Currency Issuer Default Rating (IDR) to Negative from Stable and affirmed the IDR at 'BB+'.
South Africa's central bank lowered its benchmark repurchase rate by 25 basis points to 6.50 percent amid an economic slowdown and said future policy decision will continue to be highly dependent and sensitive to risks to the outlook while it seeks to anchor inflation expectations near the midpoint of its target "in this persistently uncertain environment."
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