The ANC looked set for its worst performance of the democratic era with its support after Wednesday’s elections unlikely to breach 60%. But the bigger crisis could befall the DA, with a drop in support from 2014, indicating it has failed to capitalise on the governing party’s problems. It is likely to prompt questions about Mmusi Maimane’s leadership. Heading into the poll, the ANC was projected to lose some ground, with analysts saying a performance close to 60% would be viewed as a strong enough mandate for President Cyril Ramaphosa to implement growth-friendly reforms. That optimism was reflected in the rand gaining about 1% over the past three trading days, showing 0.4% stronger at R14.3116/$ by 8.05pm on Thursday. It was flat at R16.0794/€ and was 0.1% stronger at R18.6698/£. Live results of the national vote in the 2019 general elections "The rand is essentially marking time," Annabel Bishop, chief economist at Investec, said in a note. "The domestic currency has been trading ...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

Already subscribed? Simply sign in below.



Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00.