Capture of State-owned enterprises totally unacceptable – Ramaphosa

South Africa's deputy president and new leader of the ruling African National Congress (ANC), Cyril Ramaphosa, said on Thursday it was "totally unacceptable" that State-owned companies had fallen prey to criminal elements, resulting in sovereign credit rating downgrades to sub-investment status. Ramaphosa, who succeeded President Jacob Zuma as head of the African National Congress in December, said the ailing economy's recovery hinged on stabilising state firms which he said were facing serious challenges, raising concerns among investors who were also concerned about policy uncertainty.