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How to Invest in Financial Technology Stocks Risk Free Portfolio Building ✌️【Stock Market】✌️ Free global stock market data to help you plan the best investment strategies and seize market opportunities. Early results fromSouth Africa’s electionsuggest the ruling African National Congress (ANC) party could lose its majority for the first time in 30 years.
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Officials of the Independent Electoral Commission have stressed that the official tally could take several days and some larger voting wards could take more time to be tallied.
In past elections, results from rural areas – where the ANC has major strongholds – have come in later, boosting results for the party.
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Once all the votes are counted, if the ANC remains below 50% it will be forced to enter a coalition with one or more parties. Depending on how low its support dips, it may need to form a deal with one of the larger opposition parties such as the DA or EFF to remain in power.
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Zuma – a fierce critic of current ANC leader and South African President Cyril Ramaphosa – was forced toresign as leader in 2018and served a brief stint in jail in 2021 for contempt of court. The 82-year-old wasbarred from running for parliamentlast week after the country’s Constitutional Court ruled that five years must have elapsed since the completion of his sentence. However, his face remained on the ballot.
How to Invest in Financial Technology Stocks Risk Free Portfolio Building ✌️【Stock Market】✌️ Free stock data analysis to help you select stocks accurately and capture market trends. South Africa’s electoral commission has seven days to declare the final results by law. However, they are usually announced sooner than that. This year, the commission has set Sunday, June 2, as the final results day.
If the ANC does lose its majority, it will have 14 days once the final results are declared to form a new government before a new parliament must convene to elect the nation’s president.
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