South Africa's ruling ANC set to lose majority in pivotal vote, early results show
Publishing timestamp: 2024-05-30 12:30:19
Summary
Early indications show ANC losing majority control in South Africa's elections, with ANC gaining around 42% of the vote. The potential loss of parliamentary majority could lead ANC to seek alliances with smaller parties. The news may impact investors, as ANC's economic policies have focused on inclusivity and lifting living standards, but the country still faces systemic issues like chronic blackouts and high unemployment rates. President Cyril Ramaphosa seeks a second mandate amidst a decline in ANC's prominence.
Sentiment: MIXED
Tickers: .DXY,
Keywords: economy, breaking news: politics, elections, dxy us dollar currency index, business news, politics, world economy,
Source: https://www.cnbc.com/2024/05/30/south-africa-election-anc-set-to-lose-majority-in-pivotal-vote.html