CLEAN : S&P cuts South Africa's credit rating to junk

The transcript discusses the negative economic impact of poor leadership decisions, including the replacement of a capable finance minister with a less competent one, leading to increased public debt and a negative economic outlook. The ratings downgrade has depreciated the currency, increased inflation, and raised interest rates, affecting ordinary people and business confidence. The situation may catalyze political change in South Africa.

What is the significance of the potential downgrade in ratings for the South African economy?

What role does business confidence play in economic growth and job creation?