What another five years of ANC rule means for South Africa

Victory for the ruling African National Congress (ANC) in South Africa’s general election last week was largely expected and, as such, financial markets have taken the result in their stride. However, this belies the need for wide-scale structural reform, which appears unlikely under another ANC-led government. With GDP per capita likely to remain stagnant over the coming years, this will raise doubts over the ANC’s ability to retain its majority beyond 2019.

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