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Frank Charnas is CEO of AfriQue Consulting Group. He tweets @frankcharnas
South Africa boasts the most advanced marketplace in Africa. However the contraction of the Chinese economy, over-reliance on commodities, a failure to deliver structural change, and political mismanagement have caused the economy to stutter and led to a sharp devaluation of the local currency. On June 3 Standard and Poor’s will review South Africa’s sovereign rating, and it is widely expected to downgrade it to “junk” status. This bodes poorly for the country, and would signal a major degradation in South Africa’s ability to deliver much needed economic development.