Ramaphosa leadership could see economic turnaround: Analyst
Congratulatory messages have continued to stream in through the night, after Cyril Ramaphosa was declared the new president of the ANC.
There have also been questions on social media on how the party's new leadership plans on taking the country forward.
Ramaphosa's victory at the elective conference last night excited the Rand - which strengthened to its highest level in months.
Economist, Graeme Kermer says Ramaphosa's knowledge and experience in business will play an important role.
"The rand has gone better because he seems to be a known force. He will help shape policy. Most importantly, he has broad-based support across various sectors of society. This is really what South Africa has been waiting for to let the handbrake off the economy," he says.
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The Rand spiked by as much as 2.4%. It's currently trading at 12.74 to the dollar.
While analyst, Imraan Buccus says a fresh leadership could attract significant new support for the ANC.
"Most South Africans were disillusioned with our politics. Many South Africans are relieved that we have a change in leadership. I think those who were predicting this might be the end of the ANC need to sit back and rethink. This is an opportunity for the ANC to go back to the drawing board and reinvent themselves," he says.
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David Mabuza is the ANC's Deputy President. Gwede Mantashe is now National Chairperson, Ace Magashule has been chosen as Secretary General. Treasurer-general went to Paul Mashatile while Jessie Duarte retains her position as deputy secretary-general.
Listen to economist, Graeme Kermer's reactions below.