Cyril Ramaphosa is the president of South Africa, one of the country's richest men, and a stalwart of the ruling African National Congress (ANC). He first rose to prominence as the leader of a mining union. He was among the members of the new elite who acquired discounted assets through Black Economic Empowerment deals in the 1990s. He has been described as glad-handing but paralysingly cautious. On May 21st 2025 he visited the Oval Office—accompanied by government ministers, a trade union boss and Trump's golfing buddies—to salvage his country's economic ties with America, but was ambushed by Donald Trump, who dimmed the lights to show footage of a radical opposition leader chanting anti-white slogans. Ramaphosa kept his cool. His delegation acknowledged South Africa's appalling crime rates while trying to convince Trump that white farmers are less likely to be murdered than poor blacks.
Ramaphosa set up Operation Vulindlela in 2020, a reform task force that has helped open state-owned firms such as Eskom to market forces, attracting private capital into energy projects. He has been described as reformist but slow-moving. The ANC will select a new leader in 2027, who will probably also take over as president before a general election in 2029. The favourite is Paul Mashatile, Ramaphosa's deputy, who could have different views on the merits of the Government of National Unity coalition. The Democratic Alliance, which has accused Mashatile of corruption, may find it harder to be in a coalition led by him. An end to the coalition that ushers in a populist alliance would be damaging for South Africa.
A budget is just a method of worrying before you spend money, as well as afterward.