After Cyril Ramaphosa was named new ANC president, the rand firmed by nearly 4% against the USA dollar to R 12.55. He has been backed by business and union leaders.
Mr Ramaphosa was deputy president of South Africa and became president of the ANC today after a vote decribed as the most pivotal moment for the party since it launched black-majority rule under Nelson Mandela 23 years ago.
Former African Union chairperson Nkosazana Dlamini-Zuma reacts before addressing a lecture to members of the African National Congress Youth League in Durban, South Africa, April 20, 2017.
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And dropping to third place is " Coco ", bringing in an estimated $10 million in its fourth week out. That brings its three-day global haul to $450 million.
Standard Bank Economist Goolam Ballim says: "In the essence, after having been adrift for a decade and after having growth slump for many years, it is now the expectation that with Cyril Ramaphosa at the helm, growth will be reinvigorated".
The announcement of the result was delayed by a recount of votes after a delegate supporting Mrs Dlamini-Zuma was said to have lodged an objection. The victor will need votes from 2,389 delegates to gain a majority. And some of the ANC's national committees, which send several hundred delegates to the conference, are also thought to be favouring her.
The Mail & Guardian reported that of the 1138 ANC branches out of a total of about 3800 branches, that had held their branch general meetings early November, 768 nominated Cyril Ramaphosa as ANC president.
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Kim's sister made the initial call to 119 responders at 4:42 p.m. reporting that she believed her brother was committing suicide. The boyband singer, known to his fans as Jonghyun , died after he was taken to hospital in Seoul earlier today.
The Sunday Independent published a front page endorsing Dlamini-Zuma on Sunday, the day the ANC presidential vote was set to happen.
The ANC, which marked its 105th anniversary this year, fought to end apartheid and has dominated the political landscape since then.
Mr Ramaphosa had tweeted before the election: 'I will serve in whatever position the movement sees fit. He criticized business groups, civil society, the media and the judiciary.
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The Melbourne-headquartered cloud collaboration provider for construction firms has a market capitalisation of A$1.06 billion. It has offices in 30 countries and says it has managed over $1tn in construction projects.