South Africa’s ANC is about to elect its new leader

Masi Losi | The Times | Gallo Images | Getty Images

South African President Jacob Zuma, Nkosazana Dlamini-Zuma, Deputy President Cyril Ramaphosa and Zweli Mkhize during the African National Congress’ policy conference on July 5, 2017, in Johannesburg, South Africa.

South Africa’s ruling African National Congress (ANC) is set to elect a new leader at its five-yearly national conference which begins Saturday.

The two frontrunners are current President Jacob Zuma’s ex-wife Nkosazana Dlamini-Zuma (NDZ) and Deputy President Cyril Ramaphosa, a businessman and former trade union leader who is also one of the country’s richest men.

While polls have placed Ramaphosa ahead for the vote in Johannesburg, Martin Roberts, deputy head of Africa at analysis firm IHS Markit, suggested to CNBC that Zuma could use his influence — be it financially or legally — to ensure that NDZ wins the leadership. She is viewed as a proxy for the incumbent president, though she has insisted that she is standing as a candidate in her own right.

NDZ “represents a continuation of the current status quo and move towards full-blown populism,” Emad Mostaque, co-chief investment officer at emerging market specialists Capricorn Fund Managers, told CNBC. She promises “radical economic transformation,” though critics say that she has provided little detail as to how this will be facilitated.