Market is waiting for Zuma to go

JOHANNESBURG – The rand gained more than 1percent yesterday as the ANC’s head honchos met to discuss the removal of President Jacob Zuma as head of state, while the JSE recouped some of last week’s losses as global risk appetite returned.

The rand was bid at R11.93 against the US dollar at 5pm, compared to the R12.07 it was bid at at the same time on Friday.

ANC president Cyril Ramaphosa over the weekend gave the clearest indication yet that the party had run out of patience with President Zuma and was ready to kick him out.

Speaking on Sunday, Ramaphosa …read more