By: Natasha Archary
The Rand gains strength as President Cyril Ramaphosa secured a second term in office.
This comes after the ANC announced a new Top 7 list after concluding its 55th National Elective Conference in Nasrec, Johannesburg on the weekend.
Optimism in Ramaphosa’s ability to lead South Africa for the next 5-years is clear as the country’s currency showed a slight improvement as the results were announced.
Strengthening by more than 2% against the US Dollar on Monday, 19 December, this is a better rate for the Rand since the President’s Phala Phala scandal was put to rest.
The Rand which opened at R17.55 to the Dollar on Monday morning, is currently trading at R17.22 against the Dollar.
Incidentally, the Rand also gained a 1% momentum against the Pound and the Euro.
Ramaphosa won the Presidential vote by 2476 to Zweli Mkhize’s 1897.
Also read: World’s first-ever ‘artificial womb factory’ to birth 30 000 babies a year



