Shoppers in central Johannesburg. It said politicians should now take an “economy first” approach as they negotiate forming a new government.
The election cost the African National Congress its parliamentary majority for the first time since taking power in 1994, forcing it to negotiate with rivals to form a broad alliance, known as a government of national unity. Parliament will reconvene Friday to elect the president.
“This adjustment could have unwarranted and unintended consequences for the economy and the well-being of South African citizens,” Sacci said. “An ‘economy first’ approach should reduce high levels of unemployment and build a meritocracy with sustainable and inclusive economic growth.”
Among the parties that have expressed an interest in joining the new government is the centrist Democratic Alliance. The ANC has also said it was reaching out to all parties, including the leftist Economic Freedom Fighters and former President Jacob Zuma’s uMkhonto weSizwe Party. Both have pledged to nationalize land and the central bank.