Worst may not be over yet for South African financial assets

Having underperformed most other EMs since the pandemic, we think that returns of financial assets in South Africa will continue to disappoint. The outlook would worsen if the African National Congress (ANC) ends up forming a coalition with the radical left-wing parties after next week's elections. 

All our research on South Africa’s upcoming election can be found on a dedicated webpage. We will be discussing the vote in an online briefing today at 3pm BST. Sign up here.

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