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After almost two decades of waiting, Cyril Ramaphosa has finally made it to the top spot in the ANC. He beat his opponent, former African Union Commission chairperson Nkosazana Dlamini-Zuma.
The result was close: Ramaphosa won 2,440 of the 4,708 votes cast, against Dlamini-Zuma's 2,261.
The 4,708 votes cast represented 99% of the 4,776 credentials adopted.
The rand was quoted at R12.57/$ immediately after the announcement, from a previous close of R12.96.
The currency, which had enjoyed a “Ramaphosa rally” in the run-up to the elective conference, strengthened considerably in the hour before the announcement. From a level of R12.80/$ at 5.32pm, it reached a best level of R12.52 in the moments before the announcement shortly before 7pm. But it later gave back some of those gains, to trade at a still-strong R12.68/$.
Mpumalanga chairman David Mabuza was elected deputy president of the party.
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