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Market
Will South Africa's GDP growth rate increase, decrease, or stay the same for Q3 2024?
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South Africa•African National Congress•ANC•Democratic Alliance•DA•Inkatha Freedom Party•IFP•National Freedom Party•NFP•Parliament•Cyril Ramaphosa•National Assembly•South African
Resolution / Starting Odds
Increase • 33%
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No change • 34%
Official GDP statistics from Statistics South Africa
Story
South Africa's ANC, DA, and IFP Form Unity Government; Ramaphosa to Be Re-elected
Jun 14, 2024, 10:09 AM
South Africa's ruling African National Congress (ANC) has reached a historic coalition agreement with the Democratic Alliance (DA), the Inkatha Freedom Party (IFP), and the National Freedom Party (NFP) to form a government of national unity. This coalition comes after the ANC failed to secure an outright majority in the recent elections, marking the first time in 30 years that the party did not dominate Parliament. The agreement aims to foster 'rapid, inclusive, and sustainable' economic growth. As part of the coalition deal, Cyril Ramaphosa is set to be re-elected as President. The National Assembly will convene on Friday to elect a Speaker and the President. The South African rand has gained value following the news of the coalition agreement. The coalition also includes a regional agreement in KwaZulu-Natal.
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