CAPE TOWN - As the results of the ANC’s 54th national conference are revealed, we see Deputy President, Cyril Ramaphosa
chosen to lead and ensure the ANC mandate is fulfilled.
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Rand cheers at Ramaphosa's victory
Jacob Zuma, who faces accusations that have damaged the ANC's stature has been the head of state since 2009 and ANC leader since 2007, stepped down to make way for the new leader.
However, during his final speech, Zuma blamed everyone including the alliance partners , ANC Veteran's League , the media, private sector and civil society for the problems in the party.
The conference was held at NASREC, Johannesburg and the ANC said that 4,776 delegates who took to the vote.
The voting process only started in the early hours of Monday, with Gauteng being the last province to cast its vote.
Respectively, It was a head-to-head battle between presidential candidates Cyril Ramaphosa and Nkosazana Dlamini-Zuma, with Ramaphosa clinching a narrow win.
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Here are what financial analysts had to say about the results:
I can confirm Cyril Ramaphosa has been elected the president of the ANC. My reliable source from electoral commission has confirmed.
— Azania Afrika (@SAYoungLion) December 18, 2017
I heard political analysis, Theo Venter, say on radio that the Dlamini Zuma team have requested a re-count. If that is true it would mean Ramaphosa probably won by a narrow margin. Let's see.
— Helen Zille (@helenzille) December 18, 2017
NDZ has a bucketful of deplorables: Oros, Bathabile Dlamini, Carl Niehaus, Nomvula Mokonyane, Ace magashule, David Mabuza..... Are these the sort of ppl you want in power? And then there are the Guptas, the real power behind the throne
— Barney Mthombothi (@mthombothi) December 17, 2017
That's not how economics works, the Rand is strengthening as a results of investors who believe its worth it investing in South Africa as it will yield good results what we do with the opportunity its our choice we can blow it or improve services and stuff.
— Aurora Capital. (@Meltaschild) December 18, 2017
Correction R12.56 was intraday high for Rand against USD on 14 June 2017. Prior to that R12.31 was intraday high on 27 March 2017
— Andrew Todd (@andrewbtodd) December 18, 2017
They are recounting DP and DSG upon her people’s objections, but President is confirmed. It’s certainly CR17.
— Floyd Shivambu (@FloydShivambu) December 18, 2017