Investors’ wish-list for Cyril Ramaphosa’s new Cabinet
With his picks expected soon, the president’s new Cabinet needs to be free from the ‘taint of scandal’ and ‘Zuma-apologists’, say investors
SA equity investors got the election result they wanted, more or less. Now they’re hoping President Cyril Ramaphosa will follow up by choosing a team of competent ministers that’s lean and free of the taint of scandal. Ramaphosa is expected to announce his Cabinet within the next few days and the early signs have encouraged investors: former environmental affairs minister Nomvula Mokonyane, accused of taking bribes, has already been ruled out. The position of deputy president David Mabuza, who has been linked to a series of scandals, is also in doubt as he faces scrutiny from the ANC’s integrity commission. Mokonyane and Mabuza deny any wrongdoing. A line-up that signals a push for clean government and a focus on the economy will boost the mood among traders, said Nolwandle Mthombeni, an analyst at Mergence Investment Managers in Cape Town. “A good outcome in the Cabinet appointments will bring about the sentiment needed,” she said. “SA corporates, in particular, need some level of ...
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