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

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President Jacob Zuma waves during the ANC policy conference in Johannesburg. (Themba Hadebe, AP)
President Jacob Zuma waves during the ANC policy conference in Johannesburg. (Themba Hadebe, AP)

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. 

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