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 God...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.