Re-election of Ramaphosa as leader of the ruling party in South Africa

Johannesburg: (Reuters)
An official from the ruling African National Congress party in South Africa announced that members have re-elected President Cyril Ramaphosa as party leader, paving the way for him to run again for president in 2024.
Ramaphosa thus defeated former health minister Zweli Mkhize.
It was widely expected that Ramaphosa would win a second term as leader of the ruling party following a meeting of party delegates in Johannesburg.
The president has been able to secure most of the nominations of delegates and party members, and is widely considered the most popular politician in the country.
Supporters of the president received the announcement that he had regained the party leadership to cheers and cheers in the Great Conference Hall.
The announcement gave a boost to local currency (rand), bank stocks and local sovereign bonds.
Ramaphosa’s allies have also secured leadership positions in the party.
Ramaphosa’s campaign for re-election as party leader was marred by news of the ‘Farmgate’ scandal in June, involving the discovery of large sums of foreign currency hidden on his private farm.
Ramaphosa has denied any wrongdoing and has not been charged in connection with the scandal, but has raised questions about how he obtained the money and whether he disclosed it.