Economics
South African Business Leaders Upbeat About Ramaphosa’s Changes
- Goldman sees economy expanding 2.4% this year, 2.8% in 2018
- Land policy, Eskom biggest challenges for new administration
Cyril Ramaphosa
Photographer: Simon Dawson/BloombergThis article is for subscribers only.
South African President Cyril Ramaphosa has been a hit with business leaders and investors during his first three weeks in office.
Since succeeding Jacob Zuma, who was immersed in scandal during his nine-year tenure, Ramaphosa has fired several ineffective ministers, taken a stand against graft and ordered a review of draft rules that deterred investment in the mining industry. Improved confidence may boost weak economic growth and investment and could help stave off a downgrade to junk by Moody’s Investors Service later this month.