Cyril Ramaphosa

President Jacob Zuma resigned from office on 14 February 2018. This was the consequence of rule riddled with accusations of corruption and “state capture” orchestrated with the Guptas.

There was a time Big Business thought the Zuma factor was just what they needed and the Rand-Dollar traded in the 8.50 – 6.70 band. Then in January 2016, they decided Zuma was bad for business, warning shots were fired, the Rand fell almost to 17.

Internationally, the emergence of the Brazil, Russia, India, China and South Africa (BRICS) alliance in 2010 (when Beijing invited Pretoria on board) was Zuma’s main legacy, he believed: BRICS offered enormous potential to challenge abusive Western hegemony.

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New head of state and leader of the African National Congress (ANC) comes from a trade union, political and business background.

For white and international capital in South Africa, the last few weeks have been a period of rejoicing due to Ramaphosa being elected as African National Congress (ANC) president. Zuma’s days are now numbered too as state president.

Both South Africa’s and Namibia’s governing parties are set to hold elective congresses before the end of this year. Those who win the leadership contests will each lead their respective parties into a general election in 2019 as their presidential candidate.

On April 03, S&P Global reduced South Africa’s rating to ‘Junk’ status. South Africans flooded the streets demanding Jacob Zuma’s head.

In the midst of gorging themselves through exploitation and corruption, competing factions of the flabby ruling class in South Africa (the ruling class being capitalists, politicians and top state officials) have once again stepped into the ring to take pieces out of one another.