South Africa’s ANC Weighs Unity Government, Spooking Markets
- ANC has begun talks with a range of parties, spokeswoman says
- Rand slumps as much as 1.3% amid fears of policy uncertainty
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South Africa’s African National Congress favors forming a government of national unity that would include a range of political parties after last month’s elections failed to produce an outright winner, an option it may struggle to convince its main rivals to accept.
The rand weakened on concerns the new administration will include populist groups and have to accommodate a wide range of views, giving rise to policy uncertainty.