President Jacob Zuma resigns
The rand strengthened to R11.66 against the dollar while Zuma addressed the nation, but weakened marginally to about R11.70 by the time he finished speaking
President Jacob Zuma has resigned. Since he was fired as deputy president in 2005, he has been the single most influential, divisive and controversial figure in post-apartheid South African politics. ANC president Cyril Ramaphosa is now poised to take over from Zuma, without his predecessor facing the humiliation of a motion of no confidence in Parliament, scheduled for Thursday. The rand strengthened to R11.66 against the dollar while Zuma addressed the nation, but weakened marginally to about R11.70 by the time he finished speaking. The rand also strengthened against the euro, reaching a level of R14.50. Zuma said he had served at the behest of the ANC, that he still believed he should be removed via Parliamentary processes, but that he was resigning anyway. Defiant to the end, he said he did not fear a motion of no confidence or impeachment, but he did not want violence in his name or to divide the ANC. “I must accept that if my party and my compatriots wish that I be removed fro...
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