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April 2018
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Posts Tagged ‘Cyril Ramaphosa’
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March 16, 2018

SA to raise GDP growth forecasts in October – Nene

National Treasury will probably raise projections for economic growth this year in its October mid-term budget as the country overcomes governance and financial problems that have lowered confidence, said Finance Minister Nhlanhla Nene.

Newly appointed President Cyril Ramaphosa reappointed Nene to the role last month. When former leader Jacob Zuma fired him and replaced him with a Des van Rooyen in 2015, the move triggered a sell-off in the rand and bonds.

Policy uncertainty and state graft concerns saw Fitch Ratings and S&P Global Ratings lower their assessments of the nation’s debt to junk. The economy slumped into a recession in 2017 and has mounted a fragile [...]

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March 15, 2018

WITH BOGEYMAN ZUMA BEHIND, SA STEPS INTO THE POLITICAL UNKNOWN

Over the weekend leader of the Economic Freedom Fighters Julius Malema demonstrated, if another demonstration was necessary, that he intends to make the 2019 elections all about race. At the same time, the election of Cyril Ramaphosa as ANC leader and then president of the country has led to claims that our politics is about to change fundamentally.

It is, obviously, incredibly foolish to attempt to predict the issues and outcomes of the 2019 elections on a date as early as today’s. The land issue could play out in complex and emotive ways, or somehow end up on the back burner as it has for the last 20 years.

Still, the actions of some politicians are rather revealing. [...]

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March 2, 2018

Rand at strongest level in three years

“The rally in the local currency ‘continues unabated it seems and a slight dollar recovery last week has done nothing to dent this’”

The rand continued its winning ways on Monday morning, touching levels not seen since early 2015.

Positive sentiment towards SA was the recurring theme.

Foreigners were net buyers of local bonds to the tune of R12.3bn over the past week, helping the momentum in the rand, which acts a buffer against inflation.

Foreigners have also been aggressive net buyers of the local shares since December when Cyril Ramaphosa became the new of the new leader of the ANC.

With inflation now close to the mid-point of the [...]

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February 27, 2018

WATCH: ANC will ensure deputy president void won’t linger for long, says Magashule

February 25 – ANC secretary general Ace Magashule (in black jacket) and ANC national spokesman Pule Mabe address journalists after a special meeting of the ANC NEC in Pretoria on Sunday. Photo: ANA/Jonisayi Maromo

The African National Congress will ensure there will not be any “anxiety” about the appointment of a new deputy president, after former incumbent Cyril Ramaphosa was elected president of the republic on February 15, ANC secretary general Ace Magashule said on Sunday.

“On the issue of cabinet [appointments], it is always a prerogative of the president in or after consultation with the national officials. Tomorrow [Monday] we have a simple, normal [...]

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