CAPE TOWN - South African Members of Parliament (MPs) on Wednesday elected Cyril Ramaphosa as president of the republic.

Speaking after the election, Ramaphosa said he is "honored and humbled" to be elected to serve the South African people.

"I will be a president of all South Africans," said Ramaphosa, who promises to do the best job as president.

He said his mandate is derived from the masses of the people.

"Collectively, we have a mandate to build a nation through the principle of social justice," said Ramaphosa.

"My interests are in advancing the interests of the masses of our people."

In light with the Constitution, Ramaphosa must assume office within five days by swearing or affirming faithfulness to the republic and obedience to the Constitution.

Ramaphosa is expected to take the oath at his inauguration scheduled for May 25 in Pretoria.

Ramaphosa was nominated by the ruling African National Congress (ANC) which garnerd 57.51 percent of the votes to win the May 8 general elections, maintaining its dominance in Parliament but with a reduced majority.

The ANC's victory secured Ramaphosa a full term in office as president. But this must be endorsed by MPs in the new Parliament through an electoral process, as required by the Constitution.