FT: Investors cheer as Cyril Ramaphosa sworn in as South Africa’s president
South Africa's rand and stock market surged after Cyril Ramaphosa secured a second term as president with a power-sharing agreement with the Democratic Alliance. The Johannesburg Stock Exchange rose 1.2%, buoyed by hopes of stability and reform. The rand climbed to R17.9 against the dollar, recovering from recent losses. Analysts view this coalition as a positive step, boosting investor confidence and potentially leading to significant economic growth.
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By Rob Rose in Cape Town, David Pilling and Joseph Cotterill in London
Rand and equities rise after African National Congress seals power-sharing agreement with Democratic Alliance
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