African National Congress (ANC) leader Jacob Zuma was elected president of South Africa by parliament on Wednesday and set boosting the economy and creating jobs as his immediate priorities.
Zuma, jailed for 10 years under apartheid before going into exile, is the nation’s fourth head of state since the end of white rule in 1994.
An eight-year corruption case nearly ruined him, but graft charges against him were dropped shortly before the election on April 22, which his ruling party won handsomely.
Aside from fighting poverty, crime and AIDS, Zuma faces the task of guiding Africa’s biggest economy, which may already be in recession, through the global financial crisis.
Zuma moved quickly to reassure foreign investors who will be watching to see if the charismatic former guerrilla steers the economy to the left despite his assurances of policy continuity.
He also sought to comfort trade union allies who helped him become president and may want payback in the form of more government spending.
“We must move quickly to implement the framework agreed by the government, business and labor to protect jobs and boost the economy,” Zuma said.
Zuma will be inaugurated tomorrow and will name a Cabinet on Sunday. The 67-year-old was deputy president for six years before being sacked by his predecessor, former president Thabo Mbeki, in 2005.
The new government is expected to keep conservative monetary and fiscal policies to cushion the impact of the global crisis.
The fate of respected Finance Minister Trevor Manuel will be closely monitored by the markets, who view him highly and have praised his management of the economy.
Manuel stood alongside Zuma as they were sworn in as members of parliament.
A source familiar with the issue said the long-serving finance minister may be chosen as a deputy president, tasked with heading a planning commission from within the presidency.
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