What if Zuma refuses to resign?
Zuma was finally recalled yesterday by the ANC, one of the biggest indications of the loss of confidence in him by his party. Although this is a step in the right direction, unfortunately it is far from the end.
If Zuma refuses to resign (highly likely in my opinion), the ANC can use a motion of no confidence or impeachment. An impeachment will be tricky as there are no rules yet for regulating the removal of the President for serious violation of the Constitution, or the law, or serious misconduct.
In my opinion, I don’t think Zuma will resign and the most realistic route for his removal will be a motion of no confidence. We still have a couple of days of swings-and-roundabouts ahead of us.
credit: Graph Provided by Sharenet Advanced Online Charts
What to watch today
SA ex‐div: KAL 83c, SBV 100c (special), SVN 100c (special)
Goldfields FY17 results
South32 1H18 results
Europe & UK
Shire Plc FY17 results
Cisco Systems 2Q18 results
Business Inventories and Sales
Underlying Inflation Gauge
Head of Trading and Portfolio Analyst
Stephan heads up Sharenet’s trading desk and is a full-time trader and portfolio analyst, also responsible for equity research across industries. Stephan developed his passion for the markets while working in the Stockbroking division of Standard Bank and is especially passionate about CFD trading. Stephan studied at the University of Stellenbosch and completed a BComm Honours (Business Management) with a focus in Portfolio Management and Bonds. He has also passed the JSE Equity Trader’s Exam, RE5 (Representative) and RE1 (Key individual) Exams as well as the Registered Persons Exams (RPEs) in order to give advice on equities.