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South Africa's ANC deciding whether to remove Zuma as President

South Africa's ANC deciding whether to remove Zuma as President”

Bloomberg market analyst Robert Brand also remained positive on the currency, stating that it was possible for Ramaphosa to continue the rally by continuing to clamp down on corrupt state-owned enterprises such as Eskom, and possibly even move away from some of the ANC's more populist ideas (such as land reform) so as to encourage continued foreign investment.

As well as deciding Zuma must step down on Friday, the ANC National Executive Committee suspended the party's pro-Zuma provincial executive committees in the provinces of KwaZulu-Natal and Free State that the courts said weren't properly elected.

"We have not arrived at the decision that Zuma must go, or Zuma must not go". He's also vowed to fight the graft that have marred Zuma's administration, Bloomberg said.

The call by Ramaphosa is came as authorities in South Africa launched an offensive against companies controlled by the Gupta family, businessmen friends of Zuma who are accused of unduly using political connections to win work with the state. Zuma announced on Sunday that Water Minister Nomvula Mokonyane will represent him at the inauguration of Liberian President George Weah.

The South African delegation led by Ramaphosa included a broad range of leadership from various sectors of the economy and society, with Finance Minister Malusi Gigaba the lead minister and co-ordinator.

"The financial markets have reacted very positively to these and related developments in the ANC, as have numerous disaffected voices who previous year were clamouring for change in the ruling party", said NKC African Economics analyst Gary van Staden. "We had said there would be continuous interaction between President Zuma and (ANC) President Ramaphosa", Magashule said.

The end to the U.S. government shutdown implied a shift to risk-on trade, said Rand Merchant Bank currency strategist John Cairns.



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