Joel Stern

Prof Joel Stern: Moody’s downgrade wake-up call to all SA banks

New Yorker Joel Stern has been a regular visitor to South Africa for over three decades. He stays in touch through a teaching commitment at UCT and by servicing a number of SA corporate clients. Known globally for his invention of the widely used EVA concept (Economic Value Added), Stern has the gravitas to make … Read more

Reserve Bank disputes Moody’s downgrade of Capitec

By Tiisetso Motsoeneng JOHANNESBURG (Reuters) – South Africa’s central bank has disputed credit rating agency Moody’s downgrade of Capitec Bank, saying it disagreed with the rationale behind the two-notch rating cut for the local lender. Moody’s cut the financial strength rating of the lender to D from D+ on Friday and deposit ratings to Ba2/NP from Baa3/P-, … Read more