for subscribers

Jammine: ANC supporting Zuma may be final S&P straw – SA 'junk' on Friday?

Share your Subscriber Article
You have 5 articles to share every month. Send this story to a friend!

On the face of it, President Jacob Zuma had a pretty good week. He survived the biggest threat yet to his hold on power when 104 members of the ANC’s National Executive Committee declined a vote on his “recall”.

Then he jetted off to Havana, rubbing shoulders with soulmates like Robert Mugabe and Nicolas Maduro and getting to read a eulogy at the funeral of his hero Fidel Castro who ruled Cuba for 47 years. Zuma also ensured the ANC once again committed itself to turning SA into a massive construction site, promising huge infrastructural spending to spark a stagnant economy back to life.

But as independent economist Azar Jammine unpacks in this excellent contribution, beneath the surface seismic shifts are happening. Jammine says Zuma’s confidence will have been shaken by the weekend challenge to his position which, for the first time, came from within.

There’s more to this story
Subscribe to News24 and get access to our exclusive journalism and features today.
Subscribe
Already a subscriber? Sign in
ZAR/USD
17.45
(+0.15)
ZAR/GBP
22.74
(+0.43)
ZAR/EUR
20.58
(-0.19)
ZAR/AUD
12.51
(-0.02)
ZAR/JPY
0.16
(+0.56)
Gold
1919.74
(+0.74)
Silver
25.52
(+2.81)
Platinum
928.15
(+0.93)
Brent Crude
44.46
(-1.09)
Palladium
2135.00
(+2.60)
All Share
57417.28
(+0.44)
Top 40
53126.54
(+0.56)
Financial 15
10139.85
(-0.74)
Industrial 25
76210.18
(+0.91)
Resource 10
58992.57
(+0.54)
All JSE data delayed by at least 15 minutes morningstar logo
Company Snapshot
Voting Booth
Do you think it was a good idea for the government to approach the IMF for a $4.3 billion loan to fight Covid-19?
Please select an option Oops! Something went wrong, please try again later.
Results
Yes. We need the money.
11% - 975 votes
It depends on how the funds are used.
74% - 6473 votes
No. We should have gotten the loan elsewhere.
15% - 1342 votes
Vote