Word: anc
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Thabo Mbeki called time on his presidency on Saturday, after South Africa's ruling African National Congress (ANC) called on him to resign - opening the way for his rival and successor as party leader, Jacob Zuma, to be voted in as President despite allegations of corruption against him. ANC party leaders argued through Friday night over Mbeki's fate, announcing early on Saturday afternoon their unanimous decision to remove him from office following allegations that he had used the country's law-enforcement system to undermine Zuma's chances of succeeding him. ANC Secretary General Gwede Mantashe said...
...caretaker government until elections can be held next year. Some suggested that Zuma, who is not a member of parliament, would not serve in a transitional administration and would most likely assume power only after the elections. Although Mbeki has been a lame duck ever since Zuma wrested the ANC leadership from him at last December's party leadership conference, Saturday's move to accelerate Mbeki's ouster has raised fears of growing instability in Africa's largest economy, with bitter divisions within the ANC likely to grow more rancorous. While Zuma's supporters have long claimed that their leader...
...Julius Malema, the vociferous new president of the ANC Youth League, railed against Mbeki, calling him a "dictator," and predicting that he would be removed over the weekend. But for all the venom of his supporters, Zuma himself was not among those calling for Mbeki's head. Instead, he had called for Mbeki to serve out the remainder of his term, in order to ensure a smooth political transition. Zuma told his party that it would be a waste of energy to "beat a dead snake," and instead appealed to them to focus on healing internal divisions. Malema's response...
...dignified exit from office and retain some of his legacy as a peace broker on the continent - where he has mediated conflicts in the Ivory Coast, the Democratic Republic of Congo and, most recently, Zimbabwe - has instead faced a string of humiliating defeats, and leaves office much diminished. The ANC, too, is likely to be weakened by its decision, which also seemed to suggest that Zuma is not necessarily in control of the coalition of forces within the party that brought him to power...
...also one of the primary instruments that the postapartheid government uses to dilute white domination of the economy. The government now owns 24% of Sasol, which has a black majority on its board--Davies is the company's only white executive. Former ANC guerrilla leader Max Sisulu once served as group general manager. In March, Sasol announced it was releasing more than $3 billion in shares--or 10% of the company's total value--to Sasol employees, black South Africans and other previously disadvantaged groups. A finance deal will allow buyers to own shares by putting down a small deposit...