South Africa:Economists want Ramaphosa to boost economy

Andrew Cummings
February 23, 2018

Mr. Ramaphosa, a former union leader turned multimillionaire, narrowly beat Mr. Zuma's ex-wife in an ANC leadership contest a year ago and has moved quickly to press his more liberal economic vision on the ruling party and government.

According to him, Jacob Zuma's resignation is something that has been long awaited.

Wesgro CEO, Tim Harris welcomed this announcement and hoped that President Ramaphosa would consider hosting it in Cape Town - Africa's leading conferencing destination: "Cape Town and the Western Cape would be excited to host the proposed investor conference, and Wesgro is looking forward to participating, in line with our mandate to promote investment into the Western Cape".

Zuma resigned on February 14, a day before he was due to face a motion of no confidence. Analysts forecast this year´s growth will jump to 1.8 percent.

The South African Revenue Service said on Monday it welcomes President Cyril Ramaphosa's State of the Nation pledge to launch a Commission of Inquiry into tax administration and governance at SARS.

Reports have also suggested Ramaphosa will consult widely with the ANC's strategic partners before any reshuffle‚ as he seeks to stamp his authority on the ANC and the state.

"We believe we have done enough, we have taken the tough decisions" to avoid another ratings downgrade, Finance Minister Malusi Gigaba told reporters before his budget speech.

Minister Gigaba "has this tainted history and the problem with him delivering the budget is that people know that he has been involved so intimately with the state capture project" and "cannot signal to global markets a credible turnaround", said Georg.

Most of the sentiment was positive, which has become a theme for Ramaphosa since he's become president.

But the opposition is skeptical.

Ramaphosa's job has been made hard by the fact that the ANC did not experience a breakaway during the recent Zuma recall, as was the case during the Thabo Mbeki removal. But divisions within the party remain, and preparations for next year's parliamentary elections could also affect policy-making through 2018.

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