On May 8, several streets in downtown Johannesburg erupted in joyful tumult after a judge cleared Jacob Zuma (pictured), South Africa’s seemingly unstoppable populist politician, of rape.

On the same day, the JSE All-Share Index closed at 21,756 – near historic highs – and the rand was firm at just above six to the US dollar. Although stocks, commodities, and the currency markets have since tumbled on global trends, the message was clear: Most investors are unruffled by South Africa’s tense presidential succession saga.