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’s chief executive officer said.
The ANC has linked up with the EFF and other smaller parties to take control of a number of city councils after local-government elections in November 2021. The political uncertainty is serving as a deterrent to foreign investors, Wainwright said. He spoke a day before President Cyril Ramaphosa hosts an annual investment conference after setting a target in 2018 to attract R1.2 trillion of investment.
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