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South African Voters Head To Polling Stations In Highly Consequential Election

SOUTH AFRICA
EM BulletHomepagemarkets-real-timePolitical RiskPolitical Risk BulletBulletEmerging Market NewsPolitical Market News
  • Polling stations in South Africa will stay open until 20:00BST/21:00SAST but the results may not be announced until the weekend. Support for the ruling African National Congress (ANC) edged higher into the election day, with the closely watched daily tracker ran by the Social Research Foundation (SRF) estimating it at 42.2% on May 27, assuming a turnout rate of 66% (as was the case in the 2019 election). Elsewhere, several polling agencies in the recent weeks have pointed to a large proportion of voters who were undecided and could prove pivotal for the final outcome. If the support for the ANC falls below 50%, the party will need to find a coalition partner for the first time in South Africa's post-Apartheid history. In an interview conducted just ahead of the vote, Political Futures Consultancy Director Daniel Silke told Moneyweb that "the bigger parties obviously have a major advantage when it comes to election day, they can mobilise their supporters" as they have a "logistic advantage, they’ve got the deep pockets to organise the transport, and in the case of the ANC, they’ve really got on the ground." For a more detailed discussion of the context of this election, please see the preview prepared by our political risk team.
  • Finance Minister Enoch Godongwana flagged his readiness to continue in his current role if the ANC forms the next government, describing the election as a choice between stability and chaos.
  • The SARB is expected to stand pat on rates tomorrow, possibly in a unanimous decision. Click here to see our preview.
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  • Polling stations in South Africa will stay open until 20:00BST/21:00SAST but the results may not be announced until the weekend. Support for the ruling African National Congress (ANC) edged higher into the election day, with the closely watched daily tracker ran by the Social Research Foundation (SRF) estimating it at 42.2% on May 27, assuming a turnout rate of 66% (as was the case in the 2019 election). Elsewhere, several polling agencies in the recent weeks have pointed to a large proportion of voters who were undecided and could prove pivotal for the final outcome. If the support for the ANC falls below 50%, the party will need to find a coalition partner for the first time in South Africa's post-Apartheid history. In an interview conducted just ahead of the vote, Political Futures Consultancy Director Daniel Silke told Moneyweb that "the bigger parties obviously have a major advantage when it comes to election day, they can mobilise their supporters" as they have a "logistic advantage, they’ve got the deep pockets to organise the transport, and in the case of the ANC, they’ve really got on the ground." For a more detailed discussion of the context of this election, please see the preview prepared by our political risk team.
  • Finance Minister Enoch Godongwana flagged his readiness to continue in his current role if the ANC forms the next government, describing the election as a choice between stability and chaos.
  • The SARB is expected to stand pat on rates tomorrow, possibly in a unanimous decision. Click here to see our preview.