Cyril Ramaphosa Sworn in as South Africa’s New President

African National Congress (ANC) leader Cyril Ramaphosa has been sworn in as South Africa’s new president, following his predecessor Jacob Zuma’s departure Wednesday night after a long power struggle.

Ramaphosa, 65, was formerly Zuma’s deputy president. He was elected leader of the ruling ANC in December, narrowly defeating Zuma’s chosen candidate, his ex-wife Nkosazana Dlamini-Zuma.



The new president’s resume includes both politics and business. Ramaphosa is one of South Africa’s richest men, with an estimated net worth of $450 million.

A lawyer by profession from Soweto, Ramaphosa was detained for anti-apartheid activism twice during the 1970s. He launched South Africa’s most powerful trade union, the National Union of Mineworkers, in 1982.

Ramaphosa served as the ANC’s chief negotiator ahead of South Africa’s transition to democracy, and chairman of the committee which facilitated former President Nelson Mandela’s release from prison in 1990.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza