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Cyril Ramaphosa’s stimulus package gets social media talking

Remember the early days of President Cyril Ramaphosa rise to power?

He was loved across South Africa, and especially on social media. But that love affair, that “ramaphoria” as it was known, has largely abated.

At the Union Buildings on Friday morning, Ramaphosa announced a R400-billion stimulus package that he and his administration hopes will reignite the smouldering South African economy.

The country is currently in a technical recession, with the last two quarters seeing economic contraction rather than growth. Clearly, something is needed.

Some on Twitter supported Ramaphosa’s vision of that something. If not that, they appreciated said vision.

Other were more cynical…

…and questioned Ramaphosa’s and his cabinet’s credentials as president and government respectively.

Others wondered where all the money was coming from.

However, it seems that investors like the sound of the stimulus package. The rand strengthened on Friday to R14.25 at the time of writing.

Feature image: ITU Pictures via Flickr (CC BY 2.0)

Author | Andy Walker: Editor

Andy Walker: Editor
Camper by day, run-and-gunner by night, Andy prefers his toast like his coffee -- dark and crunchy. Specialising in spotting the next big Instagram cat star, Andy also dabbles in smartphone, gadget and game reviews over on Gearburn. More

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