Ramaphosa at ANC helm is best possible outcome for SA economy
19 Dec 2017
Deputy President Cyril Ramaphosa assuming leadership of the ANC will be nothing less than a direct cardiac adrenaline shot to business confidence, both nationally and globally. It's the best possible outcome for South Africa; the spark we've needed to turn the tide of economic decline and to prevent the country from becoming a permanent feature on ratings agencies' junk lists.
Image source: GovernmentZA, Flickr, CC BY-ND 2.0
A quick glance at Ramaphosa’s CV shows he’s the right person for the job. He boasts vast business experience in his own right, aside from his service on the boards of some of South Africa’s largest corporates.
Ramaphosa has union credentials from nine years serving as general-secretary of the SA Union of Mineworkers and his political qualifications, including five years as secretary-general of the ANC, are unmatched. He is therefore unquestionably the one person who has the capability to unite our fractured society and economy.
Independent wealth
Perhaps most crucially, though, his vast independent wealth will almost certainly put paid to any temptation to sell political favours.
Leading the ANC puts Ramaphosa in the position of potential president-in-waiting and governing a country is like running a vast business enterprise – but on steroids.
The bottom line is both require the same experience and credentials in their leaders, especially in emerging economies such as ours where the budget spend on social is so high and job creation is essential to the long-term success of ‘South Africa Pty Ltd’.
That’s why the ANC’s new leaders should seriously apply their minds to whether it’s in the best interests of the country for Jacob Zuma to remain in the Presidency until 2019, especially in light of the two court judgements against him last week relating to the State of Capture report.
Strengthened investor confidence
The property market in 2018 will show swift and significant improvement on the back of Ramaphosa’s election, because the currency will strengthen and investor confidence will grow.
Positive sentiment will drive the economy, which as a whole has been immobilised for months waiting for this election process. With this result we can now see light at the end of the tunnel, and for the first time in ages it isn’t an oncoming train!
