East London - South Africa
wants to attract foreign investors to help it kick-start
economic growth and will crack down on corruption, the new
leader of the ruling African National Congress said on Saturday.
Cyril Ramaphosa, who narrowly won the race to succeed
President Jacob Zuma as ANC leader last month, also used a
speech to mark 106 years since the founding of Africa's oldest
liberation movement to call for party unity after a bitter
leadership contest.
South Africa's economy has slowed to a near-standstill over
Zuma's two presidential terms, as allegations of
influence-peddling in government and mismanagement of
state-owned enterprises have dented consumer and business
confidence.
But Ramaphosa's election win has injected a sense of
optimism that the ANC, which has governed South Africa since the
end of apartheid in 1994, could win back the trust of voters and
investors disillusioned with Zuma's rule.
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Ramaphosa, 65, a former trade union leader and one of the
country's wealthiest businessmen, pledged during his campaign
for ANC leader to address record unemployment and a sluggish
economy.
"South Africa is open for investment," he told tens of
thousands of cheering ANC members in a stadium in the Eastern
Cape province on Saturday. Through foreign investment "we can
grow our economy, create jobs, end poverty," he said.
"We must have an economy that offers policy certainty and
addresses areas that inhibit investment, growth as well as
social inclusion."
Ramaphosa reassured investors that the role, mandate and
independence of the central bank would be maintained while plans
for free higher education for the poor would be implemented
gradually so as to safeguard public finances.
The ANC needs to follow the example of liberation hero
Nelson Mandela to unite the country and combat the racial
inequalities that persist to this day, he added.
Ramaphosa faces a difficult balancing act as he must
accommodate the competing interests of rival ANC factions vying
for control of the party. One faction backed his bid for ANC
leader, while another favoured Nkosazana Dlamini-Zuma, a former
cabinet minister and ex-wife of Zuma.
ZUMA'S FUTURE
There has been widespread speculation that Ramaphosa and his
allies are lobbying ANC members to oust Zuma as head of state in
the coming weeks, but he made no mention of Zuma's future.
Zuma, 75, sat alongside Kenyan President Uhuru Kenyatta to
hear Ramaphosa speak and was booed on several occasions during
Saturday's anniversary celebrations.
Zuma's second presidential term doesn't officially end until
2019 when national elections will be held, but he could be
removed early through a motion of no confidence in parliament or
at a meeting of the ANC's national executive committee.
Ramaphosa welcomed Zuma's recent announcement that there
would be an inquiry into influence-peddling in government and
said it was a top priority for those responsible to be
prosecuted.
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Zuma has denied allegations that he has allowed his friends
to influence the appointment of ministers. Ramaphosa said that
corruption in the private sector was also an important issue.
ANC member Vanita Kok, from the Khoisan royal house, said
Ramaphosa's message struck a chord because "corruption is rife".
While markets have rallied since Ramaphosa's victory, some
analysts are sceptical he will deliver on his bold promises.
Gwen Ngwenya, an economist at South Africa's Institute of
Race Relations, said: "Ramaphosa is hamstrung by the need to
ensure unity, and this will result in confused policymaking."