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Finance Minister Godongwana Sees 10% Chance Ramaphosa Will Quit

SOUTH AFRICA

South Africa's Finance Minister Enoch Godongwana told Bloomberg TV that he sees a 10% chance that embattled President Cyril Ramaphosa will resign, as the ruling African National Congress hasn't accepted his departure.

  • The ANC remains a major player for the 2024 general election, the Finance Minister said, adding that Ramaphosa is more popular than the party. "My prayer for now is that he remains."
  • Godongwana noted that the ongoing political turmoil should not affect South Africa's macro position. "We are used to this kind of disruption and we have always found ways of managing it."
  • Note that Godongwana is regarded as an ally of Ramaphosa, which may be influencing his judgement.

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