for subscribers

Good news for investor confidence as Zuma's grip on ANC slips

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

Johannesburg – The outcome of the no-confidence vote in President Jacob Zuma shows that his power grip in the ANC is slipping, which could restore investor confidence for the economy to recover, an economist said.

On Tuesday, members of parliament voted to keep Zuma as president of the republic. A total of 177 MPs voted in favour of the motion with 198 against. There were nine abstentions of the 384 votes cast.

Professor Jannie Rossouw, head of the School of Economic and Business Science at Wits University, told Fin24 that although Zuma was not removed, the outcome of the vote was a “glimmer of hope” for South Africa. 

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
17.36
(+0.71)
ZAR/GBP
22.63
(+0.90)
ZAR/EUR
20.44
(+0.46)
ZAR/AUD
12.40
(+0.86)
ZAR/JPY
0.16
(+1.11)
Gold
1931.89
(+1.39)
Silver
25.71
(+3.57)
Platinum
932.00
(+1.56)
Brent Crude
44.46
(-1.09)
Palladium
2135.87
(+2.68)
All Share
57368.36
(+0.35)
Top 40
53046.33
(+0.41)
Financial 15
10190.10
(-0.25)
Industrial 25
76405.54
(+1.17)
Resource 10
58419.38
(-0.44)
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% - 967 votes
It depends on how the funds are used.
74% - 6428 votes
No. We should have gotten the loan elsewhere.
15% - 1327 votes
Vote