SA has no money for nuclear power: Ramaphosa

Posted January 28, 2018

That was the question on the lips of many foreign investors as they heard the South African delegation make their case at the World Economic Forum in Davos, Switzerland.

The IMF's revision is based on data from before the ANC's elective conference in December 2017, and thus does not factor in Ramaphosa's election win.

"Investors have a much more optimistic view of South Africa than a year ago", he said, adding that South Africa has had a stable political transition and that there is a strong commitment to address the issue of state capture (corruption).

An accounting scandal involving retailer Steinhoff has highlighted the need for more activist shareholding and more vigorous oversight by boards, the chief executive of South Africa's stock exchange operator said on Friday. The rand is the best-performing major currency in the past three months.

Deputy President Ramaphosa reiterated the emergence of renewal, hope and opportunity during the interview with BloombergTV.

"We are in a new era".

The new ANC president said that he was well aware of that the issue of Zuma's tenure was top of everyone's mind, but would not be moved to say what was on the cards, beyond that he and Zuma were constantly "in discussions". "We have decided we are going to manage this transition very carefully".

"Any normal human being would be concerned about all this and feeling anxious, so he is naturally feeling anxious and wants things to be handled carefully", he said.

"We have taken a view that this is a very, very hard matter", Ramaphosa said, when asked if Zuma would serve out his term.

He said his key interest is moving the country forward, not focusing on individuals.

"Firstly‚ to set up a commission of inquiry to go into the full mess that we have been having over the years‚ of state capture where a few individuals‚ a few companies have captured our state institutions and were just stealing money left‚ right and centre".