EXPLAINER | What are the key issues for investors in South Africa's 2024 election?
South Africans are heading to the polls on 29 May. The outcome will likely determine investments levels in the near future on 29 May, for the first time since the end of apartheid 30 years ago, polls suggest the governing ANC is at risk of losing its parliamentary majority. Investors are paying close attention.If the ANC gets less than 50% support, it would have to seek one or more coalition partners to govern Africa's most industrialised economy.
"The market is watching very closely to see the degree to which the ANC is forced to engage in coalitions with what are perceived to be extremely left-wing parties such as the MKP and EFF," said Yvette Babb, a portfolio manager at US-asset manager William Blair Investment Management. Meanwhile, coalition discussions between the ANC and DA would likely lead to a"risk-on rally", where prices would rise, Molopyane said."A coalition with the DA is regarded as likely to be more business friendly... an efficiently run state, fiscal prudence – all of which would bode well for South Africa's growth prospects," she said.The rand has reflected South Africa's economic woes in recent years.
I don't see any political party with a real plan to stimulate the economy, only promises for everyone to somehow have a job."But as the dust settles after the election, South Africa will remain attractive for certain industries, such as gas, renewables and mining ."
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