The National Assembly has elected African National Congress president Cyril Ramaphosa as the President of South Africa.
Business Day
South Africa Sees Fresh Start for Economy, With the Same Challenges
In the nearly quarter-century since apartheid ended in South Africa, the dominant African National Congress party has lost some of its moral authority as a vessel for lifting the fortunes of black people. To judge from furious street protests that have swept the nation, the party devolved in the eyes of many into a patronage network enriching a well-connected few.
Now the A.N.C. is gaining a new opportunity after the resignation of President Jacob Zuma in the face of rampant accusations of corruption. The newly installed president, Cyril Ramaphosa, inherits the historic challenge that has evaded post-apartheid leaders — how to transform and reinvigorate an economy that long funneled most of the spoils to a narrow, predominantly white slice of the populace into a source of progress for the masses, elevating the country’s overwhelmingly black population. And how to eliminate protections for South African conglomerates forged during apartheid.
It will not be easy.
