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COVID-19 has caused widespread turmoil and volatility since the start of 2020 and the measures implemented to contain it have sent shockwaves throughout the global economy. Investor appetite for risk has declined drastically, resulting in a major sell-off in financial markets, as well as a drastic depreciation in many emerging market currencies. In South Africa, the situation is further exacerbated by consecutive downgrades to the sovereign credit rating – by Moody’s to sub-investment level for the first time and by Fitch to a level further into sub-investment grade.
Read more: BFAP The use of agricultural inputs in South Africa
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