Ramaphosa’s New Cabinet Announcement Sparks Rally in South African Markets

In S.A, President Cyril Ramaphosa’s new cabinet announcement has sparked a significant rally in South African shares and bonds, easing investor concerns. Key positions were given to business-friendly opposition politicians, with Enoch Godongwana retained as Finance minister. This move signals a continued commitment to prudent fiscal policy. Economist Dawie Roodt says bond yields fell, and the Johannesburg Stock Exchange’s all-share index rose: