Market reacts favorably to Ramaphosa's reelection - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

Image: Dinilohlanga MekutoPresident Cyril Ramaphosa has been re-elected leader of the governing African National Congress for a second term on Monday.

Ramaphosa, who had been widely tipped to secure a second five-year term as ANC leader at a party gathering in Johannesburg, beat former health minister Zweli Mkhize in a two-horse race.he announcement of Ramaphosa’s victory was greeted by wild cheers from his supporters in the large conference hall.The Rand is trading at R17.22 to the US dollar; R21.04 to the Pound sterling; R18.30 to the euro; and R11.58 to the Australian dollar. The euro is trading at one dollar, and the dollar is at 136.

His allies also took top seats in the party, with chairman Gwede Mantashe retaining his position while Fikile Mbalula was elected Secretary-General, who takes charge of the day-to-day running of the party.-election campaign was dogged by the “Farmgate” scandal that broke in June involving large sums of foreign currency found hidden at his private game farm.

Ramaphosa has denied wrongdoing and not been charged with any crimes over the scandal, but it has raised questions about how he acquired the money and whether he declared it.

Nothing changed what's your point? Bloody quantum.

Wow

Its too early to call anything. Let it play out quietly.

Comrade Rand o na le di feelings.

Nonsense

Ramaphosa is the one in the first place who made the rand go up to R17. Next year it'll be R20 under Ramaphosa. SA economy will be worse

Cupcake nation

I wonder how does it do this

🤣🤣🤣🤣🤣🤣🤣🤣. Fuck 🤦🤦🤦 What did we do wrong on earth? 1st it was Colonialism 2nd it was Apartheid Now & 3rd it's CR ANC. Lord sono sethu yintoni thina Sizwe esinsundu🙏? How do ppl celebrate the election of some1 who's putting us through perpetual darkness?

I present to you the Rand, Cyril's long lost son

To loose them again tomorrow 😭

🤣🤣🤣🤣

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Rand strengthens against dollar as Ramaphosa wins re-election | BusinessThe rand strengthened by more than 2% against the dollar on Monday after Cyril Ramaphosa won re-election as ANC president. | News24_Business ANC55 ANCNationalConference _Business Ret gang _Business Great! More cash for international vacation over X'mas! But wait it has slide almost 20% _Business 😂😂😂🤣🤣
Source: News24 - 🏆 4. / 80 Read more »