South African President Cyril Ramaphosa is reportedly facing pressure from his closest party allies to explore forming a coalition with the opposition Democratic Alliance, following a significant setback in this week’s elections.
Sources familiar with the matter suggest that alongside this pressure, there is a competing push from detractors within the African National Congress (ANC) for an alliance with former President Jacob Zuma’s new party and the populist Economic Freedom Fighters (EFF)
According to sources, who requested anonymity due to lack of authorization to comment, indicate that if such a scenario were to unfold, Ramaphosa’s ability to remain in office could be compromised.
South Africa’s rand plummeted as election projections revealed a significant drop in support for the ruling African National Congress (ANC), sparking concerns about potentially chaotic coalition negotiations and causing unease among investors.
The African National Congress (ANC) got 42.7% of the votes in Wednesday’s election, according to the latest update from the electoral commission.
Former President Jacob Zuma’s supported uMkhonto we Sizwe (MK) party grabbed 10%, moving ahead of the radical left Economic Freedom Fighters to become the third largest party, while the pro-business Democratic Alliance came in second with 23.6%.