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Strong showing by ANC in election should boost stocks, but doubt remains

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The key post-election issue is if Cyril Ramaphosa will be ‘more assertive in implementing changes that he knows are necessary if the economy is to start growing again’

A street vendor sells regalia depicting South African President Cyril Ramaphosa outside the venue for the ANC 107th anniversary celebrations at the Moses Mabhida Stadium in Durban on January 12, 2019. Picture: RAJESH JANTILAL / AFP

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. A less-restrictive visa policy for visitors would spur tourism earnings, while clearer policy on the thorny land expropriation question would improve investment in agricultural production.

Investors are showing few signs of anxiety as next week’s poll approaches. SA stocks have made their best start to a year since 2007, advancing 11% as of the end of April, almost in line with the 12% gain by emerging-market peers. The benchmark index advanced 0.8% as of 11am in Johannesburg on Friday, the most in more than two weeks.

 

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Bullshit .

Imagine a world where stocks improve after a Communist party was elected. Above ronellepretor robinenochs concaracal willempet ampersuk whatonearthsa vfplus

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Business Maverick: Strong ANC Win Would Boost S. African Asset Prices, Goldman SaysA strong win for South African President Cyril Ramaphosa’s African National Congress in next week’s election would trigger a rally in asset prices, according to Colin Coleman, head of sub-Saharan Africa at Goldman Sachs Group Inc. Unfortunately for Goldman Sachs and Colin Coleman, we will vote for EFF... No,a Coalition should do the trick,Same as in Johannesburg. It's true. The international opinion formers that define what we pay for the necessary debt for infrastructure and development know a vote for CyrilRamaphosa and the MYANC is a vote for the future.
Source: dailymaverick - 🏆 3. / 84 Read more »