Investors may have concluded that Ramaphosa is too timid to make the big decisions needed
Politicians have never liked financial markets, especially falling ones. Finance minister Trevor Manuel famously described them as “amorphous” shortly after his appointment in the 1990s, smarting as he was from a 9% fall in the rand in the month after he took the job.
It was hardly a giant slur, but it was enough to upset foreign investors who were appraising SA’s first black finance minister. The rand fell further...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and TimesLive Premium.
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