The Key to South Africa’s Vote Is the Margin of Victory
- Strong ANC win seen boosting sectors including telecoms, banks
- Mining stocks offer hedge in negative scenario on weaker rand
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With the winner of South Africa’s May 8 elections hardly in doubt, it’s uncertainty around the margin of victory for the ruling African National Congress that has stock investors’ attention.
Money managers and analysts have said a strong showing for the ANC, potentially exceeding 60 percent of the vote, should boost stocks by strengthening President Cyril Ramaphosa’s ability to drive improvements in Africa’s most-industrialized economy. But opinion polls show differing pictures of ANC support, ranging from 51 percent to 61 percent.