One man could have calmed Davos doubts
After the pleasantries that follow any meeting with a head of state, I could have placed a bet that the first thing any emerging-market investor would have liked to ask President Jacob Zuma
Unfortunately, or perhaps fortunately for No1, it's a question that investors are now going to have to put to his deputy, Cyril Ramaphosa. But as we all know, ministers serve at the pleasure of the president. And try as Ramaphosa might to reassure the investment community that the country will remain under sound and - more important - stable management, his words won't carry as much weight as the president's. It's a pity the large delegation of Team SA to the Swiss Alps this week won't be led by Zuma. On the face of it, the decision may have saved the president from making any promises which, in an ANC election year, he might not be able to keep. But let's just imagine that the plan for a reshuffle affecting the finance minister was still very much on the cards - not attending is also a lost opportunity to alert investors to possible changes in the cabinet in the months to come. A whisper in the right ear would naturally lead to a market rumour and in turn it would be priced into th...
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