• Home
  • Categories
  • News
  • Community
EN
EN
Home
CategoriesNewsGlossaryCommunityAbout Us
Contact Us
Social Media
Region
🌏International
Region
🌏International

Copyright © 2023-2026 Traderknows Ltd. All rights reserved.

Contact
Home
/
News
/
South Africa's election results out, ANC may lose majority for first time.

South Africa's election results out, ANC may lose majority for first time.

TraderKnowsTraderKnows
2024-05-30
Summary:The South African economy has been deteriorating in recent years, and in this election, the African National Congress (ANC) is likely to lose its majority status for the first time.

Preliminary results from South Africa's most intense election since the end of apartheid began to emerge on Thursday. Due to the high voter turnout, many polling stations had long queues waiting to vote until late at night.

The voting on Wednesday could mark a turning point in the country's politics, as polls suggest that the African National Congress (ANC) may lose its majority for the first time in 30 years, meaning it will need to form a coalition with one or more smaller parties to govern the country.

Since South Africa's historic election in 1994, the ANC, under the leadership of Nelson Mandela, has won every national election held every five years. However, dissatisfaction with high unemployment, crime, frequent power outages, and corruption has led to a decline in its support.

Voters are electing provincial legislatures in the country's nine provinces and selecting a new national parliament, which will subsequently elect the next president.

This time, the ANC is still expected to receive the most votes, meaning its leader, current President Cyril Ramaphosa, is likely to remain in office.

As of 0500 GMT on Thursday, the Electoral Commission had processed less than 1% of the results from over 23,000 polling stations.

Based on this preliminary count, the ANC's vote share is about 54%, the largest opposition party, the Democratic Alliance, is in second place with around 20%, and the radical left Economic Freedom Fighters are third with about 8%. Former President Jacob Zuma's new party, "uMkhonto we Sizwe," is fourth with around 5%.

Analysts suggest they can start making useful predictions once 5% of the polling station results are released.

The chairman of the Electoral Commission told reporters at a results center in Midrand, north of Johannesburg, on Wednesday that voter turnout might be higher than in 2019, when 66% of registered voters cast their ballots.

This year, over 27 million people have registered to vote.

According to the law, the Electoral Commission has seven days to release the full preliminary results, but election officials said they plan to announce the results by Sunday.

SKYPE TU

公众号2

Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

The End
Previous
Next
Comments
0/1000
TraderKnows
Written byTraderKnows
Created date:2024-05-30 08:46
Last Updated:2024-05-30 09:29
Independent Analysis: Manually researched and fact-checked by the TraderKnows Compliance Team, based on public regulatory records.
Wiki
Economic Recovery

Economic recovery refers to the phase where, following an economic downturn or crisis, there's a gradual increase in production and employment, businesses see improved profits, and consumer and investment activities rebound, leading to a gradual return to a normal economic state.

Recent Post

Japan's Real Wages Rise for Fourth Consecutive Month, Fueling June BOJ Rate Hike Bets

a minute ago

China Flexible Employment Exceeds 300 Million as Blue-Collar Wage Growth Outpaces White-Collar for…

2 minutes ago

South Korean Stocks Post Steepest Weekly Drop Since March as Tech Valuations Reset

3 minutes ago

China Commercial Paper Rates Drop in Early June Amid Rising Bank Demand

4 minutes ago

UK House Prices Unexpectedly Fall in May as Geopolitical Tensions Push Up Borrowing Costs

4 minutes ago

Massive Intervention Fails to Save Yen as Short Positions Surge Near Historic Lows

8 minutes ago

AI Momentum Pauses as Broadcom Outlook Misses High Expectations; Markets Await Payrolls

8 minutes ago

SpaceX Launches 75B USD IPO Roadshow as Access Blocked in Mainland China and Hong Kong

15 minutes ago

Global Gold ETFs See $2 Billion Outflows in May as Capital Pivots to Tech Assets

16 minutes ago

Nikkei Drops Over 1% on Tech Sector Pullback While Real Wage Growth Provides Support

20 minutes ago

South Korea Lifts Mandatory Reporting for Crypto Transfers Over 10M Won

30 minutes ago

Amundi Says Asian AI Stocks Supported by Fundamentals as Fed Path Poses Key Risk

31 minutes ago

Taiwan Stocks Close 1.33% Lower on Broadcom Drop But Hold Key Technical Support

33 minutes ago

wealint.com (WAI) Risk Warning

4 hours ago

doyos.com has been marked as illegal by the Russian Central Bank

4 hours ago

Risk Warning

TraderKnows is a financial media platform, with information displayed coming from public networks or uploaded by users. TraderKnows does not endorse any trading platform or variety. We bear no responsibility for any trading disputes or losses arising from the use of this information. Please be aware that displayed information may be delayed, and users should independently verify it to ensure its accuracy.