Finance Minister Malusi Gigaba has been figthing to portray the country as a sound investment destination following the Cabinet reshuffle in March.
Some credit ratings agencies were quick to downgrade the country following the axing of Finance Minister Pravin Gordhan and his deputy Mcebisi Jonas.
S&P Global was the first agency to downgrade South Africa's foreign-denominated debt to junk status with a negative outlook following the midnight Cabinet reshuffle.