The Coming Collapse of the Rand

Corruption charges against former South African Deputy President Jacob Zuma have been dismissed, boosting his chances of running for president. In reaction to this news, the Rand dropped by 1.2%.

The charges against Zuma are quite concrete, and Zuma’s former financial advisor Shabir Schaik was last year sentenced to 15 years for corruption and fraud and having a corrupt relationship with Zuma during an arms procurement deal.

During his recent trial for the rape of the daughter of a family friend Zuma demonstrated an old-fashioned view of women and an astonishing ignorance of HIV and AIDS, all the more surprising as he was in charge of both South Africa’s Moral Regeneration Campaign and the South African National AIDS Council. Zuma was acquitted of the rape charges.

Zuma’s name will forever be linked to his statement that a shower after sex can prevent AIDS.

He has never given up on his ambition to become President of South Africa.

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