Victory margin key as stock traders ready for SA elections

- | 10 months ago

With the winner of South Africa's May 8 elections hardly in doubt, it's uncertainty around the margin of victory for the African National Congress that has stock investors' attention.

Money managers and analysts have said a strong showing for the ANC, potentially exceeding 60% of the vote, should boost stocks by strengthening President Cyril Ramaphosa's ability to drive improvements in the economy. But opinion polls show differing pictures of ANC support, ranging from 51% to 61%.

A decisive victory would empower Ramaphosa's pro-business agenda, including releasing spectrum to the telecommunications sector, said Warwick Bam, head of research at Avior Capital Markets in Cape Town.

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