Business, markets fear Ramaphosa will be hamstrung
'We call on the newly elected leadership of the ANC to immediately occupy itself with a clear and practical programme of action'
Business and markets’ optimism about a victory for Cyril Ramaphosa in the ANC’s leadership race has been tempered by the three members of the Zuma camp in the party’s new top six. Cyril Ramaphosa was elected to succeed Jacob Zuma as the party’s president, with David Mabuza as his deputy. Gwede Mantashe, formerly secretary-general, returns as chairman. Jessie Duarte retains her post as secretary-general, and Free State chairman Ace Magashule becomes secretary-general. The rand gave back a chunk of Monday’s gains on Tuesday morning. BayHill Capital MD Geoff Blount said markets had priced in “a Cyril slate victory, rather than a hung national executive committee (NEC)”. Economist Dawie Roodt said investors might consider investing in SA again but he doubted Ramaphosa would be able to turn the country around. “He will not be held back by his own ability‚ but the ability of his organisation … I think the DNA of the ANC is poisoned‚” said Roodt. “It is not as if the state’s debt is gone. ...
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