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The Reserve Bank, energy and SOEs: Ramaphosa's policy direction wins over ANC delegates

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President Cyril Ramaphosa. Picture: AP
President Cyril Ramaphosa. Picture: AP

President Cyril Ramaphosa emerged from the ANC's policy conference on Sunday with his economic policy direction intact, and challenges for a more radical approach largely contained.

In return, his government has undertaken not to abandon a developmental role for the state in the economy, particularly in the energy sector.  

Among the hot-button economic issues were energy policy, the ownership and mandate of the SA Reserve Bank, and the future of state-owned enterprises. But while no radical changes were endorsed, the mobilisation around a radical programme indicates that Ramaphosa does not have a completely free hand in policy making and that management of expectations in the ANC remains critical. 

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