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.

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 Thursday that his country would “not be bullied." The comment by Ramaphosa was seen as a reaction to Trump's pledge to cut all funding to South Africa over a new land

South African President Cyril Ramaphosa spoke to Elon Musk “on issues of misinformation and distortions about South Africa,” the presidency announced on Tuesday.