Fixing South Africa’s Economy a Long, Hard Haul, Ramaphosa Says

South African President Cyril Ramaphosa said his administration’s drive to turn the economy around will be protracted and is being frustrated by the rapid spread of the coronavirus around the globe and other factors beyond its control, Bloomberg News reported. “These are trying and testing times,” Ramaphosa said at a two-hour briefing to journalists in Cape Town on Tuesday. “I like to believe that we have entered an era where there is no longer any objection to reforms and transformation. We are going to reform. As this moves, we will be repositioning our economy for further investments.” Africa’s most-industrialized economy has twice slipped into recession since Ramaphosa took office in February 2018, highlighting the challenges he faces in trying to undo the misrule and graft that characterized his predecessor Jacob Zuma’s nine-year tenure. Read more