Investors are delighted that the secretary-general has been suspended from the ruling party.
Reutersreported that the rand rallied on the news that Magashule had been suspended.
The secretary-general’s suspension is cited as a key factor in the rand’s performance recently.
Investors looked more favourably on South Africa since Ace Magashule was suspended. Photo credit: GULSHAN KHAN/AFP, DANIEL SORABJI/AFPSource: Getty Images
According toTimes Live,Magashule’s suspension removes an obstacle to Ramaphosa being re-elected as president of the ANC.
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