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Cyril Ramaphosa new president of South Africa

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Staff Writer | February 16, 2018
Cyril Ramaphosa
Africa   The rand soared to a near three-year high

Cyril Ramaphosa was elected as South Africa’s president in a parliamentary vote on Thursday and pledged to tackle endemic corruption.

Ramaphosa, in brief remarks to parliament ahead of his first state of the nation address, said he would work hard “not to disappoint the people of South Africa”.

“The issues that you have raised, issues that have to do with corruption, issues of how we can straighten out our state-owned enterprises and how we deal with state capture (influence-peddling) are issues that are on our radar screen,” he said.

Ramaphosa was elected unopposed as Jacob Zuma’s permanent successor by parliament, and sworn into the post by South African Chief Justice Mogoeng Mogoeng, who had earlier read out the former president’s resignation letter.

The rand, which has gained ground whenever Zuma ran into political turbulence, soared to a near three-year high against the dollar on word of his resignation.


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