Local Vote May Spur ANC Policy Turn on South African Economy
- Investors underestimate policy risk: Nomura’s Attard Montalto
- Smooth election will reassure markets, says Citadel’s Herman
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South Africa’s most competitive elections since the end of white minority rule may force the ruling African National Congress to alter its economic course to address criticism that it’s not doing enough to tackle poverty or reduce a 27 percent unemployment rate.
Investors will probably welcome any slippage in the ANC’s dominance in Wednesday’s municipal elections because it could push the party to do more to attract investment and stoke an economy growing at the slowest rate since a 2009 recession, said Greg Katzenellenbogen, a director at Sanlam Private Investments.