Investors expect a stable ANC-IFP coalition after elections
Most investors expect South Africa’s ruling ANC to form a stable coalition that includes the Inkatha Freedom Party after May 29 elections, boosting financial markets and ensuring policy stability, according to research group Krutham.
An outcome of that nature would bolster investor confidence as the business-friendly IFP is seen as unlikely to demand major changes to economic policy instituted by the ANC under President Cyril Ramaphosa. Over recent weeks, incessant power cuts have receded and reforms that are being instituted have potential to boost private participation in everything from freight rail and ports to water provision as well as unblock a work permit impasse that’s locking crucial skills out of the economy.
Overall, investors polled by Krutham expect the ANC to win about 45.5% of the vote, while earlier surveys by other companies predicted a share of as little as 37%. The DA, the biggest opposition party, was expected to garner between 20.9% and 22.3% support, the EFF between 9.7% and 10.7% and MKP 6.4%, Krutham said.
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