On May 29, 2024, residents lined up to vote in the national election in Matile, South Africa.
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South Africa’s ruling African National Congress looks set to lose majority control in the country’s most seismic political transition since the end of apartheid.
A poll of just over 11% showed the ANC with 42.83% support, the Democratic Alliance with 25.56% of the vote, and the Marxist Economic Freedom Fighters close behind with 8.28%.
Reuters reported that the country’s Council for Scientific and Industrial Research separately predicted that the ANC would receive about 42% of the national vote, which was different from the 8.5% forecast when results were recorded at polling stations.
The provisional results are still subject to change.
The news is likely to affect investors as the ANC – Nelson Mandela’s party that symbolized the struggle for liberation from white minority rule – focuses its economic policies on inclusion and improving the lives of disadvantaged groups. level. Despite these efforts, the World Bank projects that by 2022 called south africa “The most unequal country in the world”, while systemic problems such as chronic power outages, an unemployment rate of nearly 33% and high crime rates continue to plague this country of more than 60 million people.
On Wednesday, Cyril Ramaphosa, the 71-year-old leader of the African National Congress and the current president of South Africa, said on social media: “Under my leadership, the African National Congress has carried out together with our volunteers A strong and clean movement reaching every corner of our country.
this Dollar The South African rand was up 1.31% at 8:30 am London time following the report. On Thursday morning, the main Johannesburg stock index fell 1.8%.
This breaking news story is being updated.
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