JOHANNESBURG - Business Leadership South-Africa announced it's support of newly elected ANC President, Cyril Ramaphosa, shortly after his election win at the ANC's national elective conference on Monday.

This comes on the back of the rand reaching a high of R12.54/$ after jumping over 4% as Ramaphosa took the reigns of ANC party President.

The council said it was now calling on the ANC to "focus on the urgent task of addressing inequality, unemployment and poverty in our country." The council also called for the new ANC leadership to focus on growing an inclusive economy that creates jobs. "For this to happen, we require regulatory certainty and policy stability that will accelerate and deepen transformation," the council said.

The council has thrown its weight behind the ANC-led government, it says, in order to achieve its NDP 2030 goals. "We want to play our full part in the transformation that South Africa so desperately needs. When the economy is strong, South Africa is strong. When business does well, society generally does well too.

BLSA urged government, business and civil society to work together in order to "fundamentally change South Africa from a land in which the majority still live with little hope to one in which they can now live and work with dignity, with a renewed sense of self-esteem and confidence in the future".

BLSA CEO, Bonang Mohale said business, as represented by BLSA, was committed to working with the new leadership. "We have committed ourselves to work towards faster, inclusive growth, transformation of our workplaces, growth of small business and, most importantly, job creation - especially amongst our youth. In the last few months, BLSA looks forward, with great anticipation, to working with the new president and team,” said Mohale.