(FILES) This file photo taken on February 11, 2018 shows South African Deputy President and newly-elected president of the ruling African National Congress (ANC) Cyril Ramaphosa reacting during a rally on February 11, 2018 in Cape Town. Cyril Ramaphosa's long and eventful career has taken him from trade union activist to multi-millionaire -- and now within a heartbeat of the South African presidency. / AFP PHOTO / RODGER BOSCH
South Africa’s political climate is the most uncertain since the end of the apartheid era, with investors acutely concerned about a potential coalition between the governing party and a leftist group after next year’s elections, Investec Bank Ltd.’s chief executive officer , Richard Wainwright said.
Anxiety is intensifying over the implications of the African National Congress falling short of the 50% it needs to retain control of the continent’s most industrialized economy, Richard Wainwright said in an interview with Bloomberg TV on Wednesday.
That may push the party to tie up with the Economic Freedom Fighters, which advocates for the nationalization of banks, mines and land.
