Reported 6 months ago
Investors in South Africa were initially expecting the ruling African National Congress to comfortably govern in coalition with a smaller party following the election. However, projections indicating a potential loss of ANC support have caused uncertainty, resulting in a significant drop in the rand's value and an increase in bond yields. The ANC is projected to win about 42% of the votes, a decrease from 57.5% in 2019, leading to concerns about potential coalition negotiations and policy shifts, causing market volatility.
Source: YAHOO