South Africa’s new political certainty boosting rand – Kganyago

The appointment of a new leader of South Africa’s ruling party has removed political uncertainty that contributed to the depreciation of the rand currency and has been welcomed by investors, the country’s central bank governor said on Wednesday. The new leader of the ruling African National Congress (ANC), Cyril Ramaphosa, narrowly won the race to succeed President Jacob Zuma as party leader in December.