South Africa`s ANC gathers to vote on new leader

Published: 2022-12-18 tag: africa

Delegates of South Africa`s ruling African National Congress (ANC) gathered on Sunday to choose a new party leader, pitting President Cyril Ramaphosa against former health minister Zweli Mkhize.

[1/2] South African President Cyril Ramaphosa attends the nomination process of the top African National Congress (ANC) officials in the 55th National Conference of the ruling African National Congress (ANC) at the Nasrec Expo Centre in Johannesburg, South Africa, December 18, 2022. REUTERS/Sumaya Hisham

JOHANNESBURG, Dec 18 (Reuters) - Delegates of South Africa's ruling African National Congress (ANC) gathered on Sunday to choose a new party leader, pitting President Cyril Ramaphosa against former health minister Zweli Mkhize.

The winner, who will run for president under the ANC banner in elections in 2024, has been more or less guaranteed to become president in the three decades since Nelson Mandela ended white minority rule in the country.

But this is no longer a certainty as the ANC's popularity has waned over that period and the party faces the possibility of losing its majority for the first time.

More than 4,400 delegates at the ANC's five-day conference in Johannesburg must decide which of the two candidates is best placed to revive its fortunes. They will vote on Sunday after the ANC nominated the two candidates late on Saturday.

Their supporters battled in a sing-off in the early hours of Sunday morning as nominations were being finalised. Ramaphosa's backers were singing songs in support of him and were holding up two fingers signalling a second term as leader.

Mkhize's supporters were chanting "change" and "He (Ramaphosa) is not coming back!"

Ramaphosa had been the favourite to win until he came under pressure to step down over a scandal involving the discovery of a stash of cash at his farm. Ramaphosa has denied any wrongdoing and has not been charged with any crimes.

Former president Jacob Zuma's supporters are seeking to use the scandal to oust Ramaphosa.

Zuma is facing inquiries over several corruption allegations, all of which he denies.

Mkhize emerged as the most powerful politician from the Zuma block. Ramaphosa suspended him over corruption allegations into COVID-19 tenders last year, charges the ex-minister denies.

Enhanced Investments, Inc.
329 South Oyster Bay Road #2085
Plainview, NY 11803
team@eninvs.com

Important disclosures

Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.