Markets give the thumbs up to GNU in South Africa

Parliament will be sworn in later today, 14 June, where the Speaker, Deputy Speaker and President will be elected.

The seventh administration will mark the first time in the democratic era that the ANC has not held a majority in parliament, dropping to 40% of the national vote. So far, the ANC, DA and IFP look set to join the GNU, which accounts for roughly 65% of all seats in parliament.The MK party, led by former ANC President Jacob Zuma, has had its urgent application to block the first sitting blocked by the Constitutional Court and will not attend the administration’s first sitting.In KwaZulu Natal, the ANC-DA-IFP partnership will be joined by the National Freedom Party , as the four parties have 41 out of 80 legislative seats combined.

Source: Financial Digest (financialdigest.net)

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