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South Africa's new president is lifting investor sentiment: Central bank chief

South Africa's new president is lifting investor sentiment: Central bank chief

Demonstrators opposed to Mahumapelo and angry about a lack of service delivery set fire to buses and looted shops in the provincial capital Thursday, police said.

South African President Cyril Ramaphosa has pleaded with the residents of this North West Provincial city of Mahikeng to give him time to look into and address their grievances.Ramaphosa on Thursday cut his Commonwealth Summit trip to London by a day, and flew back to South Africa amid reports of the widespread violent protests in Mahikeng.

He said the "serious" issues raised concerned the position of the premier, governance and corruption in the province. It later reported that 23 people had been arrested, citing local police.

"These matters clearly will be discussed in government and also on a governing party level".

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While the country has been enjoying steady portfolio investment, foreign direct investment will take longer, the central bank head said, adding that once a suitable domestic environment is created, Ramaphosa's goal will be achievable. "We want to base our decisions on evidence, proper analysis and evaluation, so when we come to a decision, we have looked at everything from all sides".

The latest protests erupted on Wednesday with residents demanding that the province's Premier Supra Mahumapelo, a member of Ramaphosa's ruling African National Congress party, step down.

President Ramaphosa spoke in various engagements in London yesterday, Wednesday, 18 April 2018, including the Commonwealth Business Forum's African Leaders' Roundtable, a working lunch with senior global investors and business leaders hosted by Bloomberg and the Commonwealth Business Forum Heads of Government Roundtable with senior Business leaders.

Cyril Ramaphosa, South Africa's president, gestures while speaking during a Bloomberg Television interview in London.


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