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South Africa's ANC debating Zuma's exit, no date agreed

South Africa's ANC debating Zuma's exit, no date agreed

South Africa's ruling African National Congress (ANC) is in the process of deciding whether to cut short President Jacob Zuma's tenure as head of state, the party's secretary general told a news conference on Monday.

According to the executives of the party, "we discussed this matter... there will be interaction between officials, President Zuma and (party) president (Cyril) Ramaphosa and there is no timeline." .

Bloomberg market analyst Robert Brand also remained positive on the currency, stating that it was possible for Ramaphosa to continue the rally by continuing to clamp down on corrupt state-owned enterprises such as Eskom, and possibly even move away from some of the ANC's more populist ideas (such as land reform) so as to encourage continued foreign investment.

However, an ANC spokeswoman declined to comment on reports that its newly-elected National Executive Committee (NEC) had resolved to ask Zuma to resign.

"We are definitely in a phase where Zuma's power is waning and Ramaphosa's is on the rise", said Judith February, a senior research associate at the Institute of Security Studies, by phone from Cape Town.

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Zuma's exit would catapult Ramaphosa into the presidency and allow him to begin to fix an economy that suffered its second recession in nearly a decade in 2017 and has struggled to mount a strong recovery. His election as ANC leader helped boost the rand 10% last month. Ramaphosa campaigned for ANC leader on a pledge to tackle government corruption.

The ANC has repeatedly said it hasn't reached a decision on the matter.

The decision is part of a judicial campaign against corruption but is also seen as damaging to Zuma because of his association with the Guptas.

He would not confirm whether a political deal would be offered to Zuma in return for his swift exit from office.

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