South Africa's credit rating outlook has been upgraded from stable to positive by S&P Global Ratings, indicating improved prospects for a potential credit rating upgrade.
The change is attributed to increased political stability following the May general elections, which is expected to lead to reforms that could enhance private investment and stimulate GDP growth.
S&P believes that these developments may create a more favorable economic environment, encouraging both domestic and foreign investment. This upgrade is seen as a significant step for South Africa as it addresses its economic challenges and aims to attract capital to support growth initiatives.