Economist: SA at a crossroads ahead of ANC conference
Investors and the business sector are waiting with baited breath for the outcome of the upcoming African National Congress (ANC) national conference.
The elective conference is expected to start in Nasrec on Saturday.
Besides the election of new leadership, the local and international business community will also be watching closely for any sharp policy changes by the governing party.
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Tumisho Grater, an economic strategist at Novare Actuaries and Consultants, says the markets seem to be favouring Cyril Ramaphosa, who is seen as business confident and investor friendly as opposed to his radical transformation competitor, Nkosazana Dlamini Zuma.
Grater says the country has been suffering from policy paralysis, but hopefully once the conference starts those policies will be implemented and the country can shed its 'junk status'.
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Grater warns that the next leader of the ANC will be a huge factor in whether or not South Africa is able to dig itself out of its current situation.
Grater says the new ANC leadership will have to instil confidence in the investment community and implement credible growth enhancing policies.