South Africa votes as ANC faces further losses and coalition rule looms

South Africa has held its local elections, with the ruling African National Congress (ANC) facing potential losses and a possible shift towards coalition rule. This outcome could see the ANC's support fall below 40%, a significant drop from previous years. The decline in ANC support could have implications for the country's economy and trade relationships, particularly with neighboring countries and international investors.

Why it matters

The ANC's support is expected to fall below 40%, indicating a decline in their political power. This could lead to a shift in the political landscape of South Africa, potentially affecting investor sentiment and market confidence.

Market impact

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