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Ramaphosa poised to lead South Africa to recovery, Standard Bank says

By David Whitehouse
Posted on Thursday, 24 June 2021 20:36

South African President Cyril Ramaphosa appears on behalf of the ruling African National Congress party at the Zondo Commission of Inquiry into state corruption in Johannesburg, South Africa, Thursday, April 29, 2021. (AP Photo/Kim Ludbrook/Pool)

South Africa is “unequivocally” on the path to recovery as President Cyril Ramaphosa’s strengthened authority is reflected in a series of recent reforms, Standard Bank chief economist Goolam Ballim tells The Africa Report.

Reform of power-generation rules, agreement to allow majority private ownership of South African Airways (SAA) and prosecutions for alleged corruption under former president Jacob Zuma mean Ramaphosa now stands as a “president unleashed,” Ballim says from Johannesburg.

The odds are improving that Ramaphosa will win a second term, which, Ballim says, would open the prospect of a “decade of resurgence” for South Africa.