African National Congress
President Cyril Ramaphosa’s African National Congress has won a sixth-straight election victory, but with its lowest share of the vote since the end of Apartheid. Ramaphosa now faces the tasks of reviving South Africa’s flagging economy and fighting corruption.
The rand is trading mixed today as the ruling African National Congress looks on track for a convincing win in national elections. According to a projection, the ANC is set to win over 55% of the vote. This would mean a substantial reduction from the last national contest in 2014.
It's a watershed moment for South Africa and the party of Nelson Mandela. The leadership of the African National Congress is expected to force out Jacob Zuma. Will the president go quietly? Can he negotiate a deal in the face of long-looming corruption allegations?