South Africa’s new era of leadership could surprise, and make it a ‘good place to put money’


Jacob Zuma, South Africa’s embattled former president, is now officially out of power and is facing prosecution for corruption charges. Can his replacement, the 65-year-old business tycoon Cyril Ramaphosa, bring stability to what was once one of the world’s top performing emerging markets?

Global investors are certainly hoping he can. The new government has made a good start, with a cabinet reshuffle that has restored familiar faces like Nhlanhla Nene as finance minister and Pravin Gordhan to the ministry of public enterprises.

Last year, the political turmoil prompted ratings agencies S&P and Fitch to downgrade South Africa’s sovereign rating from BBB- to BB+,…

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