Ramaphosa set for re-election, banks hope to get back to deals

South African Flag 230x150
By Mariam Meskin
09 May 2019

Opinion polls indicate that South Africa’s incumbent African National Congress party and president, Cyril Ramaphosa, will win the country’s hotly contested general election, held on Wednesday, with a reduced majority. Bankers expect financing business to return to normal soon, after pausing in the run-up to the election.

Most market analysts who spoke to GlobalCapital expected Ramaphosa to win re-election, with some predicting that the ANC might have a weakened majority. Final results are likely to be announced later this week, though some polls suggest the ANC’s majority may slide to 55%-58%.

Experts have said the ANC’s majority falling towards 50% could ...

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