This week, President Cyril Ramaphosa took a leaf out of the Jacob Zuma notebook by delivering his own late-night address. After the conclusion of the ANC NEC meeting that lasted two days, Ramaphosa made a set of pronouncements that highlighted two key issues that the NEC had deliberated on. The first related to the ANC's latest position on the land debate. According to Ramaphosa, the ANC has now decided to support an amendment to the constitution to clarify conditions under which uncompensated land expropriation can be effected. Given the polarising nature of the land debate and the resultant anxiety it has created, the rand predictably reacted negatively. In addition to the land pronouncement, Ramaphosa stated that the ANC had directed the government to immediately work on a stimulus package to boost the economy. This was on the back of the release of the latest unemployment statistics which reflected a rise in the official unemployment rate which now stands at 27.2%. The manufactu...
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