While countries like Spain and Portugal are making it more attractive for companies to source remote workers within their borders, SA again seems to want to head in the other direction.
Moody’s announced today that, following the revision of the country’s foreign currency desposit ceiling, it had downgraded South Africa’s five biggest banks. This comes only days after the ratings agency downgraded SA’s government bond rating.
Banks know they make too much money, and South African banks could learn a thing or two from this. Five of the UK’s biggest banks, including Lloyds, Barclays and RBS, as well as other credit card companies, have agreed to scrap the charges associated with buying currency with a card while abroad.