South African President Cyril Ramaphosa says his country is entering "a new era" following the ouster of his scandal-plagued predecessor, Jacob Zuma. And the South African rand is trading at its highest level against the U.S. dollar in three years. Its annual GDP growth has averaged less than 2% since 2009, one of the weakest rates in sub-Saharan Africa. Eskom, the state power company, and national carrier South African Airways may need to be partially privatized. "[He] was part of the policies that have led to the decline of South Africa, so why do people think all of a sudden he's got some hidden secrets that he is going to put in place," Moeletsi Mbeki, deputy chairman of the South African Institute for International Affairs, told CNNMoney earlier this week.

Source: CNN February 16, 2018 17:37 UTC