The genesis of South Africa’s descent to junk status

Civil rights organizations and trade unions in South Africa plan to take to the streets on Friday to protest the removal of key ministers, especially Pravin Gordhan.

This is the second time President Jacob Zuma has shaken financial markets by removing a finance minister. Ratings agency Standard and Poor’s has already downgraded South Africa to junk status and it’s feared other agencies could follow suit.

Sumitra Nydoo takes us through South Africa’s financial woes.