Roadblocks ahead for South Africa’s Ramaphosa after Moody’s win

South Africa’s new President Cyril Ramaphosa will need to call on all his dealmaking skills to overhaul ailing State-owned firms and tackle land reform if he wants to capitalise on Moody’s decision not to downgrade the country’s debt to junk. Moody’s said its decision to keep South Africa’s rating at investment grade reflected its view the country’s institutions would regain strength under more transparent and predictable policies – though the new government had to stay on track.