President Cyril Ramaphosa must remain the president of the African National Congress to prevent the…
Briefly
Fitch predicts that the African National Congress’s internal presidential election in December can affect the strength of the Rand and the South African economy as a whole. The agency believes that if Ramaphosa remains the president of the ruling party, the Rand will stabilize The Rand is currently being weakened by the effects of the ongoing Covid-19 pandemic and growing distrust in the ANC.
JOHANNESBURG – Fitch, an agency that specializes in credit ratings, predicts that the African National Congress (ANC)’s internal presidential election in December can affect the strength of the Rand and the South African economy as a whole.
The agency believes that if Ramaphosa remains the president of the ruling party, the Rand will stabilize, but if he doesn’t then the country’s economic situation could unravel to the point where the Rand could collapse.
