South Africa
Rand rises as Ramaphosa is re-elected─── 05:37 Tue, 20 Dec 2022
The rand strengthened slightly, by around 2% against the dollar, after President Cyril Ramaphosa's victory was announced, as global markets welcomed his re-election as head of the ANC.
The ANC on Monday re-elected Ramaphosa as its leader for a second five-year term.
Ramaphosa garnered 2 476 votes for the post of party president against 1 897 for former Health Minister Zweli Mkhize, the African National Congress' elections chief, Kgalema Motlanthe, announced.
"It's a good outcome not only for the governing party... it's a good outcome for the country," Ramaphosa's spokesperson Vincent Magwenya told reporters.
"The president is quite energised," he added.
ALSO READ: Ramaphosa wins second term as ANC president
A political analyst told eNCA that "not only is leadership important for stability in any economy, but it also shows confidence in Cyril Ramaphosa as a person, as opposed to Cyril Ramaphosa as part of the ANC. That support may have gone down somewhat, but confidence in the man and being able to steer the ship in the right direction remains, and really, what people want is the stability that he's been able to start to produce over the last few months."
Ramaphosa's comfortable victory opens the way for him to serve a second term as South African president if the ANC wins the next general elections, due in 2024.
Under the constitution, the head of state is chosen by parliament.
More than 4 300 delegates gathered in Johannesburg, cast their ballots on Sunday to appoint top officials, including the party president, deputy president, chairperson, and secretary-general.
The party's former treasurer, Paul Mashatile, was elected as deputy president.
