By Lebo Diseko

IT is often said that Ramaphosa has had his eye on the position of president since the ANC came to power in 1994. The story goes that he was so upset at not having been chosen by Nelson Mandela as his successor that he left politics and went into business.

But Mr Ramaphosa has now finally realised that dream. He has said his priority is reviving South Africa’s battered economy. But it won’t be easy: Unemployment is currently at almost 30%, a rate which rises to nearly 40% for young people.

Low growth rates and dwindling investor confidence were compounded by two credit agencies downgrading the economy to junk status. One of the first steps in improving that investor confidence is addressing the persistent claims of corruption at the heart of government.

There is a renewed sense of hope as Mr Ramaphosa is taking over the reins of Africa’s most industrialised economy. The markets appeared to welcome Mr Zuma’s resignation. The South African currency, the rand, reaching its strongest levels in three years – at 11.6570 rand for $1 in early trading.

Some will miss him though, pointing to achievements like announcing the abolition of fees for higher education, says the BBC’s Milton Nkosi in Johannesburg.

Mr Zuma, a former member of the ANC’s military wing in the days of apartheid, rose through the ranks of the party to become president. He led the country for more than a third of its time after apartheid. But he leaves office with several scandals hanging over him, and with South Africa’s economy in dire straits.

– Feb.  15, 2018 @ 18:00 GMT |