South African President Cyril Ramaphosa said on Thursday that his government would launch another phase of reforms to try to lift economic growth above 3%. "We want a nation with a thriving economy, an economy that benefits all to create this virtuous cycle of investment growth and jobs,

South African President Cyril Ramaphosa appeared to respond to threats from U_S_ counterpart Donald Trump by saying in his annual speech to the nation that his country would “not be bullied.”.

South Africa's rand was steady in early trading on Friday, after President Cyril Ramaphosa said his government would launch a second wave of reforms to try to boost economic growth.