Breaking News
0

South Africa's ANC Is Said to Order President Zuma to Quit

EconomyFeb 13, 2018 06:01PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Bloomberg. Jacob Zuma, South Africa's president, gestures as he speaks at the 54th national conference of the African National Congress party (ANC) in Johannesburg, South Africa, on Saturday, Dec. 16, 2017. Zuma urged the ruling African National Congress to fight factionalism and consider accommodating members of rival slates in its new leadership that will be elected at its national conference.

(Bloomberg) -- South Africa’s ruling African National Congress decided to tell President Jacob Zuma to step down after he refused the top party leadership’s request for him to resign voluntarily, according to five people familiar with the matter.

The ANC’s National Executive Committee took the decision during a 13-hour meeting that ended early Tuesday in Pretoria, the capital. It was called to decide on a transition of power to the party’s new leader, Cyril Ramaphosa, said the people, who declined to be identified because the decision hasn’t been made public. Calls to ANC spokesman Pule Mabe’s mobile phone didn’t connect.

“Zuma is clearly digging in, fearing what could come next should he resign prematurely,” Mark Schroeder, vice president of Africa analysis at geopolitical advisory company Stratfor, said in an interview with Bloomberg Television on Monday. “It’s an open question whether the ANC members of Parliament will vote with the multiple opposition parties to compel the president to resign.”

The ANC is trying to remove Zuma allow Ramaphosa, 65, to take over as president more than a year before the 2019 elections, giving him time to convince voters that he’s committed to meeting his pledges to rebuild a battered economy and clamp down on the graft that critics say has become synonymous with the Zuma era.

The rand weakened 0.3 percent to 11.9697 at 3:28 a.m. in Johannesburg.

Parliamentary Action

Should Zuma refuse to obey the NEC’s order to step down, the party could tell its lawmakers to use their majority in parliament to vote him out of office, clearing the way for Ramaphosa to take over.

South Africa’s opposition parties want the National Assembly to debate a motion of no confidence in Zuma this week and for parliament to be dissolved immediately after that ahead of an early election. The Economic Freedom Fighters, the third-biggest party, last month proposed the no-confidence motion that’s currently due to be debated on Feb. 22, and plans to go to court if it isn’t brought forward.

A lawyer and one of the wealthiest black South Africans, Ramaphosa is widely expected to adopt more business-friendly policies, prompting the rand to rise more than any other currency against the dollar since his election as ANC leader in December.

The ANC’s former head of intelligence, Zuma, 75, took office in May 2009, just weeks after prosecutors dropped graft charges against him. He spent years fighting a bid by opposition parties to have those charges reinstated and fending off allegations that he allowed members of the Gupta family, who are in business with one of his sons, to influence cabinet appointments and the award of state contracts.

Policy Missteps

Under Zuma, economic growth has averaged just 1.6 percent a year since he took office in 2009, undermined partly by a series of policy missteps and inappropriate appointments that rocked investor and business confidence.

Disgruntlement with his rule caused support for the ANC to fall in 2016 municipal elections and cost it control of Johannesburg, the economic hub, and Pretoria, the capital.

Zuma’s second and final term was due to end around mid-2019. He survived two previous bids to topple him in the ANC’s NEC since November 2016, but the balance of power in the panel shifted after Ramaphosa won the party presidency.

(Updates with analyst comment in third paragraph.)

South Africa's ANC Is Said to Order President Zuma to Quit
 

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email