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The ANC believes it will win the next general election.
Gallo Images/DailySun/Morapedi Mashashe
South Africa’s 2024 general election is causing investors in JSE-listed stocks to fret as the prospect of a possible coalition government creates heightened policy uncertainty.
Asset managers ranging from Allan Gray to Ninety One and Old Mutual Investment Group (OMIG) say this will cause local investors to favour the relative safety of government bonds over equities.
International investors will likely avoid local assets altogether until there is more certainty. While no date has yet been set for South Africa’s seventh democratic election, it must take place between May and August 2024, with President Cyril Ramaphosa expected to announce a poll date early in the new year.
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