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Ramaphosa Touts ‘New Dawn’ in South Africa to Lure $100 Billion

  • New South African leader pledges to crack down on corruption
  • Land ownership issue will be handled according to constitution
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South Africa President Cyril Ramaphosa discuses growth prospects for his nation’s economy.Daybreak: Americas." (Source: Bloomberg)
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President Cyril Ramaphosa brought his branding of a “new dawn” in South Africa to London as he promised to unveil incentives to attract $100 billion in investment.

Ramaphosa, 65, has been working to convince investors that he’s committed to reversing years of economic stagnation, policy uncertainty and looting of state funds since succeeding Jacob Zuma as president two months ago. So far he’s fired some ministers and replaced the boards of several troubled state companies.