Markets welcome South Africa’s ruling party victory: report

African National Congress (ANC)
African National Congress (ANC)

South Africa’s Bureau of Economic Research (BER), a research institute at Stellenbosch University, on Monday said the elections results point to a relative stability and were welcomed by the markets.

BER released its report on Monday afternoon which looked at domestic and international issues’ impact on South Africa.

“Generally, the election outcome was welcomed by the markets. The rand exchange rate reacted positively to the election outcome,” said Lisette IJssel de Schepper, economist from BER who edited the report.

She said that the focus will now shift to the Cabinet announcement and government’s plans to tackle the severe problems at Eskom.

South Africa’s ruling African National Congress (ANC) won the national election by winning 57.51 percent of the votes, the Independent Electoral Commission (IEC) announced on Saturday evening. Enditem

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