President Buhari Congratulates New South African President Ramaphosa

by Antonio Miles February 17, 2018, 2:52
President Buhari Congratulates New South African President Ramaphosa

We've had to wait a few extra days, but tonight South Africans will finally receive a State of the Nation Address (SONA) from its President, albeit not the one they've enjoyed for almost a decade.

Ramaphosa sat on dozens of corporate boards.

"(1) the 2018 Budget announcement on February 21, which we expect to drive ZAR's risk premium higher, (2) a cabinet reshuffle, including the potential replacement of FinMin Gigaba, and (3) the Mining Charter Review (February 19-21), which we expect will yield some positive developments but not enough to offset the downside risks from the Budget".

In order to achieve his ideals, Ramaphosa would need a "super team" behind him that could understand the policy and also implement it, Leoka said.

Cyril Ramaphosa has waited for this moment a long time. (There is an excellent profile of him, published in 2013, here.) He is a man of huge experience and substantial achievements, both as a trade unionist and, more recently, as a businessman who has amassed a fortune estimated a year ago to be worth more than 550 million U.S. dollars. He served 11 months in solitary confinement in a Pretoria prison. He rubbed shoulders as easily with South Africa's white oligarchs as with the men he represented. "A nation of free and equal people", Ramaphosa said. Ramaphosa will now lead the party - and the country - through to the 2019 general elections. But Thabo Mbeki and FW de Klerk honoured the invitation.

He quickly became one of the most prominent members of the new black elite.

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The economy likely is pulling that number down: The unemployment rate is 28 percent, and South African society remains one of the most unequal in the world. He added, "In line with this characterization, there needs to be concomitant action to address this situation".

The next day, police shot and killed 34 miners.

Despite being part of Zuma's government, Ramaphosa became an increasingly outspoken critic of the corruption scandals surrounding the president. "People should have allowed him to finish his term in office".

He is mired in corruption allegations, involving nepotism, influence-peddling, and conflicts of interest. In photos, he was often seen standing next to Zuma, beaming.

Zuma resigned reluctantly after his party threatened to oust him via a no-confidence vote in parliament. When Zuma dismissed a widely respected finance minister, Pravin Gordhan, Ramaphosa criticized the decision as "unacceptable".

Financial markets have rallied since Ramaphosa took over from Zuma as ANC leader in December, as investors warmed to his pledges to straighten out the country's struggling state-owned enterprises and woo overseas investment. "President Ramaphosa, to whom we offer our congratulations, should swiftly restore transparency, accountability, commitment to the rule of law and good governance at all levels of government".

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