South Africa's new leader Ramaphosa set to address nation

South Africa's new President Cyril Ramaphosa is preparing to give his first state of the nation address to a country with high expectations as he vows to curb corruption that flourished under his predecessor.

Ramaphosa, elected by ruling party lawmakers on Thursday, returns to parliament on Friday evening to deliver the speech amid speculation that he might reshuffle his Cabinet to remove ministers associated with alleged graft at state-owned enterprises under Jacob Zuma.

The South African currency, the rand, has strengthened against the dollar since Ramaphosa's ascent, but the new president faces the long-term problem of sluggish economic growth and unemployment of over 25 percent.

Zuma resigned Wednesday, opening the way for Ramaphosa to become South Africa's fifth president since the end of white minority rule in 1994.