{"id":217065,"date":"2017-12-18T19:05:54","date_gmt":"2017-12-18T17:05:54","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=217065"},"modified":"2017-12-18T19:05:54","modified_gmt":"2017-12-18T17:05:54","slug":"rand-surges-as-anc-announces-ramaphosa-as-president","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/217065\/rand-surges-as-anc-announces-ramaphosa-as-president\/","title":{"rendered":"Rand surges as ANC announces Ramaphosa as president"},"content":{"rendered":"

The rand surged to new strengths on Monday evening, as the ANC announced Cyril Ramaphosa as the party’s new president.<\/p>\n

Ahead of the official announcement, the rand strengthened to R12.61 to the dollar amid hopes that Ramaphosa would be declared the winner and the new president of the ANC.<\/p>\n

Following the announcement that Ramaphosa had beaten out Nkosazana Dlamini-Zuma as the new leader, the rand rallied further to R12.57 against the dollar.<\/p>\n

Ramaphosa is widely seen as a market-friendly leader, who has placed emphasis on rebuilding the economy, fighting unemployment and restoring damaged relationships with business.<\/p>\n

Dlamini-Zuma, meanwhile, was more vague in her approach, but was seen as market-unfriendly due to her support of populist policies like ‘radical economic transformation’, and echoing the PR drive of ‘white monopoly capital.<\/p>\n

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Read:\u00a0Rand hits 3-month high as markets bet on Ramaphosa win<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

The rand surged to new strengths on Monday evening, as the ANC announced Cyril Ramaphosa as the party’s new president.<\/p>\n","protected":false},"author":10,"featured_media":144519,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11121],"tags":[],"class_list":["post-217065","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/217065","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=217065"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/217065\/revisions"}],"predecessor-version":[{"id":217081,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/217065\/revisions\/217081"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/144519"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=217065"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=217065"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=217065"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}