Ramaphosa is one of two frontrunners in a closely watched contest to take over from President Jacob Zuma as ANC leader at a party conference starting on December 16.

Whoever becomes ANC leader will most likely be the next president of South Africa because of the ruling party’s electoral dominance.

Ramaphosa received 1,862 nominations by ANC branches, whereas his main rival for ANC leader, former cabinet minister Nkosazana Dlamini-Zuma, received 1,309 endorsements.

ANC officials in the provinces of Limpopo and KwaZulu-Natal were the last to release their nominations totals on Monday.

Ramaphosa, a former trade union leader and millionaire businessman, is seen as more market-friendly than Dlamini-Zuma, who was previously married to Zuma.

Signs that Ramaphosa has been doing well in the nominations by ANC branches have boosted the rand in recent weeks.

However, Dlamini-Zuma could still win the race for ANC leader as analysts say the outcome in December could be swayed by inducements and pressure on conference delegates.

Delegates are not bound to vote for the candidate that was nominated by their ANC branch.