The rand is slowly losing strength after the initial gain following the election of Cyril Ramaphosa’s as president of the ANC.
All the optimism about a new “president” is slowly diminishing, and economists believe that the currency is about to descend back to previous values.
It is especially Ramaphosa’s threat of expropriation of land without compensation, which made the markets realize there is not much difference between the Zuma and Ramaphosa’s policies. It is also the fact that so many Zuma loyalists of the ANC’s so-called Top 6 and the National Executive Committee were elected.
Read the original article in Afrikaans on Die Vryburger
South Africa Today – South Africa News
