Investors are eyeing a possible tie-up between the ANC and EFF next year with deep concern.
South Africa’s political climate is the most uncertain since the end of the apartheid era, with investors acutely concerned about a potential coalition between the governing party and a leftist group after next year’s elections, Investec Bank Ltd.’s chief executive officer said.
“There’s probably the highest level of uncertainty politically that we’ve had since 1994,” he said. “It does appear that they are siding in certain instances with the EFF. That will be very negative for international investors and domestic investors.” The political uncertainty is serving as a deterrent to foreign investors, Wainwright said. He spoke a day before President Cyril Ramaphosa hosts an annual investment conference after setting a target in 2018 to attract 1.2 trillion rand of investment.
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