Ramaphosa key to dealing with ‘off-the-charts’ South Africa risk

President Cyril Ramaphosa is key to handling political risk that’s “off the charts” in the nation after a vote last month failed to hand any party a majority, Standard Bank’s chairperson said. The African National Congress (ANC), which has ruled the country since the end of apartheid in 1994, lost its parliamentary majority in May 29 elections, haemorrhaging support to former President Jacob Zuma’s new group. Political parties have less than a day to cobble together a power-sharing agreement before the nation’s parliament convenes Friday.