South Africa with new President

Cyril Ramaphosa newly elected South Africa President

The newly elected South Africa President Cyril Ramaphosa was selected and endorsed by the parliament after former President Jacob Zuma announced his resignation due to corruption scandals, on Wednesday.

Africa National Congress, which is the ruling party, dully selected Ramaphosa, who is the party leader.

Former President Jacob Zuma ruled for nine years and most of the years was filled with corruption scandals putting the economy of the country at risk, also leading to the South African Rand to fall against dollar.

Since the announcement of Jacob Zuma's resignation, the dollar has since gained weight with 4% in the South African stock market.

This is a sign of a new dawn in the South Africa economy.

After Ramaphosa was unopposed in his selection, the South African Chief Justice, Mogoeng Mogoeng declared him (Cyril Ramaphosa) the new President of the country.