President Cyril Ramaphosa has been re-elected leader of South Africa’s governing African National Congress (ANC) for a second term.
President Ramaphosa, who had been widely tipped to secure a second five-year term as ANC leader at a party gathering in Johannesburg, beat former Health Minister, Dr Zweli Mkhize in a two-horse race.
The announcement of Ramaphosa’s victory was greeted by wild cheers from his supporters in the large conference hall.
The Rand, banking stocks and local sovereign bonds made gains after his win.
His allies also took top seats in the party, with Chairperson Gwede Mantashe retaining his position, while Fikile Mbalula was elected Secretary General to take charge of the day-to-day running of the party.
Ramaphosa’s re-election campaign was dogged by the “Farmgate” scandal that broke in June involving large sums of foreign currency found hidden at his private game farm.
President Ramaphosa has denied wrongdoing and has not been charged with any crimes over the scandal, but it has raised questions about how he acquired the money and whether he declared it.