Reported 7 months ago
South African political parties forming a broad alliance to establish the next government have agreed to support the reelection of Cyril Ramaphosa as president. The Democratic Alliance, Inkatha Freedom Party, and Patriotic Alliance are among those indicating their intention to join the new administration. The move has boosted investor confidence, reflected in stock market gains and lower bond yields, signaling continuity in pro-growth policies. The parliament's first sitting after inconclusive elections saw the ANC initiating discussions for a government of national unity, in which Ramaphosa has received strong backing from various parties, despite opposition from others like the Economic Freedom Fighters and uMkhonto weSizwe Party.
Source: YAHOO