The world was on the night of 14 February, 2018 treated with news that South African President, Jacob Zuma had tendered in his resignation after intense pressure from his own party bringing to an end a rule that stretched over 8 years from 2009. Rumors regarding the corruption scandals under his government with the Gupta family and what the local people called "Zupta" had clearly led to his own party calling for his head on a plate.
A close look at the trade relationship that South Africa had with COMESA under the presidency of Zuma shows that there has been a general decline in the value of exports to South Africa and Imports from South Africa by the end of 2016. Total Export value of commodities recorded 8.5 trillion US$ in 2016 compared to 10.2 trillion US$ in 2015. A similar fate can be said of the imports from South Africa that dropped to 4.3 trillion US$ in 2016.
Now, at the peak of leadership change in the only first world country in Africa is a candidate schooled in trade unions and civil society. High expectations have already been noticed along with numerous promises by the incoming President Cyril Ramaphosa of putting the economy back on track. The effect that policies passed under this regime will have on trade relationship between COMESA and South Africa in the coming years is yet to be seen.
Learn more >