The election of South African Deputy President Cyril Ramaphosa as the new leader of ruling African National Congress (ANC) opens up tentative prospects of a policy shift and rise in business confidence, ratings agency Moody’s said on Tuesday.
Moody’s lead sovereign analyst for South Africa, Zuzana Brixiova, said that in his campaign Ramaphosa “articulated a number of broad reform priorities which would, if implemented, begin to address weaknesses flagged when Moody’s placed South Africa’s Baa3 rating on review for downgrade in November 2017”.
