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Ramaphosa Rebounds From Cash-in-Sofa Scandal, Wins South African Ruling Party Vote

  • South African president considered quitting over scandal
  • Ruling party vote outcome likely to be welcomed by investors
Paul Mashatile, South Africa's deputy president, embraces Cyril Ramaphosa, during the African National Congress party in Johannesburg, South Africa, on Dec. 19.

Paul Mashatile, South Africa's deputy president, embraces Cyril Ramaphosa, during the African National Congress party in Johannesburg, South Africa, on Dec. 19.

Photographer: Leon Sadiki/Bloomberg
Updated on

Cyril Ramaphosa comfortably won re-election as head of South Africa’s governing party just weeks after a scandal threatened to derail his political career, and now faces an uphill battle to rebuild its flagging support heading into a national vote in 2024.

Rampahosa allies also won most of the African National Congress’s other six top party positions, giving him a firmer hold over the party. The outcome should reassure investors that his administration will continue with reforms to revive the stuttering economy. The rand gained as much as 2.8% against the dollar.