President Jacob Zuma

Death Threats, Court Case Mark Battle for South Africa’s ANC

JOHANNESBURG (Capital Markets in Africa) – Death threats and court challenges mark an intensifying battle for control of South Africa’s ruling African National Congress as factions fight it out in the nation’s provinces before the party elects a new leader to replace Jacob Zuma. In the region with the most ANC members, KwaZulu-Natal, the high court is expected to rule next month on an application by party officials to overturn an 2015 election of provincial leaders…

The Leader Who Caused a Slump: Zuma Blamed for South Africa Mess

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – The last time South Africa fell into recession, in 2009, it was because of the global financial crisis. This time around, economists and business executives agree, the cause is a person: the president. Jacob Zuma’s erratic political moves are breeding policy uncertainty and reluctance to invest, helping explain why the economy of the continent’s most industrialized nation contracted for a second straight quarter in the three months through March. Finance,…

Majority of South Africa’s ANC Want Zuma to Resign, Poll Shows

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JOHANNESBURG (Capital Markets in Africa) – South African President Jacob Zuma’s public approval rating has reached an all-time low and most members of his ruling African National Congress want him to resign, according to an opinion poll released two days after he survived a second bid to oust him. Almost two-thirds of eligible South African voters want Zuma to quit, the survey released Tuesday by research company Ipsos found. About 54 percent of ANC supporters say the president should…

HSBC Sees Buying Opportunity in South Africa Amid Zuma Turmoil

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JOHANNESBURG (Capital Markets in Africa) – While some stock investors may choose to flee South Africa as political turmoil engulfs President Jacob Zuma, HSBC analysts argue the noise around the embattled leader and his ruling party makes it a good time to buy. That’s because a pick-up in the South African economy and a favourable commodity price cycle as China, the biggest consumer of metals, avoids a hard landing are positive for the local market. In…

Mobius Sees Way to Dodge Zuma Risks in South African Stock Picks

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JOHANNESBURG (Capital Markets in Africa) – South African companies that have diversified beyond the country’s borders are the best bet for investors, because their fortunes are less tightly entangled with the political risks posed by the presidency of Jacob Zuma, said Mark Mobius, the executive chairman of Templeton Emerging Market Group. Decisions taken by Zuma have moved markets, most recently in March, when he fired Finance Minister Pravin Gordhan. The rand weakened and S&P Global Ratings and…

High Noon for President Zuma as Key ANC Leaders Seek Ouster

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JOHANNESBURG (Capital Markets in Africa) – South African President Jacob Zuma faces a key battle for his political survival this weekend when senior members of his ruling party say they’ll push for its decision-making national executive committee to order him to step down. Zuma, 75, goes into the meeting of the committee facing an unprecedented level of opposition from within the African National Congress and its labor and communist supporters following a series of scandals he’s faced since…

President Zuma Survives Calls to Quit With Backing From South Africa’s ANC

Posted on by The Editorial Team

JOHANNESBURG (Capital Markets in Africa) – South African President Jacob Zuma survived calls to resign by winning the support of the ruling party following his decision to fire the finance minister and stack the cabinet with loyalists. The rand weakened. The African National Congress won’t vote against Zuma in a no-confidence motion in parliament that the main opposition parties have requested, Secretary-General Gwede Mantashe told a briefing Wednesday in Johannesburg after a meeting of the ANC’s National Working Committee….

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