History of South Africa (1994–present) from international investors. In 1995, South Africa hosted and won the 1995 Rugby World Cup. Nelson Mandela wore a Springbok rugby jersey to present the William Webb Ellis Cup to South African captain Francois Pienaar, a symbolic image of reconciliation between the races. In 1999, South Africa held its second multiracial elections. The governing ANC increased their majority, putting the party within one seat of the two-thirds majority that would allow it to alter the constitution. Thabo Mbeki was elected as the nation's second ethnically Black President. The National Party (NP), restyled as the New National Party (NNP), lost two-thirds
History of South Africa (1994–present) policy, adopted neoliberalism instead. A wealth tax on the super-rich to fund developmental projects was set aside, while domestic and international corporations, enriched by apartheid, were excused from any financial reparations. Large corporations were allowed to shift their main listings abroad. According to a leading South African economics expert, the government's concessions to big business represented "treacherous decisions that [will] haunt South Africa for generations to come". History of South Africa (1994–present) South Africa since 1994 transitioned from the system of apartheid to one of majority rule. The election of 1994 resulted in a change in government with the African