JOHANNESBURG, Dec. 18 -- South Africa's ruling party African National Congress (ANC) elected Cyril Ramaphosa on Monday to be the party's president for the next five years.
Ramaphosa who is the party and country's deputy president had a tight contest with the former AU Commission chairperson, Nkosazan Dlamini-Zuma for the ANC president position. The elections were conducted by EleXions Agency.
EleXions Agency Director Bontle Mpakanyane, when announcing the results said, "Nkosazana Dlamini Zuma got 2,261 and Cyril Ramaphosa got 2,440. I therefore declare Cyril Ramaphosa as president of the African National Congress."
Ramaphosa's election into ANC president was welcomed by some experts who believe the new leader will inspire confidence of the markets and investors.
"We expect economic reforms under Ramaphosa, boost for business confidence and creditable leadership. Under Ramphosa's administration we expect investor and business confidence to increase," said Peter Draper, managing director of Tutwa Consulting.
Ramaphosa will also fight to remove corruption in the country, according to Draper.
During his addresses before election, Ramaphosa spoke against state capture and corruption. He called for the country to quickly address the state capture allegations by appointing the Judiciary Commission to investigate it and arrest those involved in corruption. He also called for the recovery of the money lost in the state capture and corruption to be used for developmental purposes.
"We expect the markets to welcome his win and also the rand to respond positively to that by strengthening in value. We also expect Ramaphosa to continue with the Pan Africanist foreign policy, continue dealing with China, BRICS and the West. We expect him to have a friendly stance on his foreign policy. He has a good stature locally and internationally." Draper said.
Draper said Ramaphosa's experience in the business makes him acceptable and likely to be acceptable by the business community and investors.
The Minister of Small Business Development, Lindiwe Zulu told Xinhua that the elected leaders should work to unite and grow the party.
"Unity is not an option for any cadre, it's a must. It's not about an individual but about an organization which translate to the people of South Africa. We cannot afford to have ANC going down," Zulu said.
According to the election results, the Mpumalanga premier, David Mabuza was elected the ANC deputy president after beating the Human Settlements Minister, Lindiwe Sisulu. Paul Mashatile becomes the party's treasurer general after beating the International Relations and Cooperation Minister, Maite Nkoana-Mashabane.
The former ANC General Secretary Gwede Mantashe beat the Arts and culture Minister Nathi Mthethwa to become the national party chairperson, while Ace Magashule was elected the party general secretary after beating Senzo Mchunu. Jessie Duarte who was the party deputy general secretary was retained in the same post after beating Zingiswa Losi.
The ANC electoral commission chairperson, Sindiso Mfenyana thanked the outgoing ANC leaders who served in the party leadership.
Baleka Mbete, outgoing ANC chairperson said, "I would like to thank the conference for disappointing those who thought this conference won't come together. This conference has been a success even though it is not yet finished. It was disciplined. I ask you to cooperate with the new determined and winning leadership as we move towards 2019."
The country will hold the presidential and parliamentary elections in 2019.