ANC’s Ramaphosa is actually not bad for South Africa investors

Ramaphosa is actually anticipated to contest the South African presidency on behalf of the ANC in 2019. He desperately needs to shore up electoral support given the party’s slipping popularity among voters, largely on the back of ongoing corruption allegations against the government.

Ramaphosa also faces a divided party which could prove a stumbling block to strengthening the South African economy. “Ramaphosa has been reluctant to put flesh on the bones of his economic plan” to avoid alienating factions of the ANC who may be “suspicious of big business” as well as “favor sweeping measures to redistribute wealth,” Payton added.

A former trade union leader as well as one of South Africa’s richest men, Rampahosa beat former cabinet minister as well as Zuma’s ex-wife Nkosazana Dlamini-Zuma (NDZ) to the ANC’s leadership on Monday. NDZ’s loss, given that will she is actually associated with the incumbent Zuma, throws the current head of state’s position into uncertainty. Zuma faces nearly 800 charges of corruption dating back as far as the late 1990s.

The ANC’s selection was announced late Monday afternoon after initially being expected Sunday morning. While many commentators weren’t overly optimistic on South Africa under Ramaphosa, emphasizing that will the country’s problems were deeply ingrained, many did believe that will he could at least work to solve economic issues.

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