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But extended electrical power instability could hinder growth, analysts warn.
South Africa is the fifth easiest country in Africa to run a business and fell to a rank of 82 out of 190 nations.
For ordinary South Africans, electricity and fuel, have risen. Unemployment is unacceptably high.
Many believe that President Ramaphosa made an inspired choice in Mboweni and that markets are justifiably optimistic.
Economic malaise in South Africa is also due to over 57% of youth estimated to be unemployed.
The president is focusing on stimulating the job-intensive agriculture and tourism sectors.
Domestic demand pulled down growth as household expenditure declined for the first time since 2016.
In 2016, there was a 21.7 per cent rebound; Tourism South Africa in 2017 launched a major campaign in India.
African leaders - and Turkish President Erdogan - were invited to the 10th Summit in Johannesburg last week.
Leaders of the five nations vowed to protect the multilateral system, which they said is now threatened.
