Ramaphosa to nationalize Reserve Bank, Rand falls, investors in fear!

Die Vryburger

Ramaphosa to nationalize Reserve Bank, Rand falls, investors in fear!
Ramaphosa to nationalize Reserve Bank, Rand falls, investors in fear! Photo: Die Vryburger

It appears that the current ANC president, Cyril Ramaphosa, is probably still a weaker leader than his predecessor, Jacob Zuma, on economic grounds.

This is the opinion of an anonymous Pretoria economist following the president’s announcement that he will nationalize the Reserve Bank in the foreseeable future.

It is now clear that Ramaphosa has little knowledge when it comes to the financial aspects of a country, and even less when it comes to persuading foreign investors to win their trust.

The announcement caused the frantic Rand to fall further into the abyss, and foreign investors were frightened by the unexpected turn.

The opposition parties had so peppered Ramaphosa with questions in parliament that he did not want to answer some of the main concerns.

It is probably better for him not to answer questions of concern or to lie blatantly as in the past.

Photo – The ANC president

Read the original article in Afrikaans on Die Vryburger

South Africa Today – South Africa News

SOURCEDie Vryburger