Carol Paton Writer at Large

Is it possible to make money out of the ANC conference? Some delegates most certainly have. Both sides in the race for the top positions have been "looking after their delegates" in the lead-up to the conference, cloistering them in fancy hotels and passing on all manner of perks. Besides these 5,000 people or so, there has also been another class of people, far wealthier and far more powerful, who also hope to gain — or at least not to lose. They are the short-term currency traders. There has been unprecedented interest in the conference. As the outgoing ANC economic policy head, Enoch Godongwana, told journalists ahead of the conference, this is the first time the rand had been linked to who will be elected leader. The market has taken care to follow in close detail the leadership race in the ANC. Hundreds of investors have streamed through Johannesburg and Pretoria in the past three months with routine stopovers at the Treasury, the Reserve Bank and the ANC — usually at Godongwan...

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