AIRLINK 204.45 Increased By ▲ 3.55 (1.77%)
BOP 10.09 Decreased By ▼ -0.06 (-0.59%)
CNERGY 6.91 Increased By ▲ 0.03 (0.44%)
FCCL 34.83 Increased By ▲ 0.74 (2.17%)
FFL 17.21 Increased By ▲ 0.23 (1.35%)
FLYNG 24.52 Increased By ▲ 0.48 (2%)
HUBC 137.40 Increased By ▲ 5.70 (4.33%)
HUMNL 13.82 Increased By ▲ 0.06 (0.44%)
KEL 4.91 Increased By ▲ 0.10 (2.08%)
KOSM 6.70 No Change ▼ 0.00 (0%)
MLCF 44.31 Increased By ▲ 0.98 (2.26%)
OGDC 221.91 Increased By ▲ 3.16 (1.44%)
PACE 7.09 Increased By ▲ 0.11 (1.58%)
PAEL 42.97 Increased By ▲ 1.43 (3.44%)
PIAHCLA 17.08 Increased By ▲ 0.01 (0.06%)
PIBTL 8.59 Decreased By ▼ -0.06 (-0.69%)
POWER 9.02 Decreased By ▼ -0.09 (-0.99%)
PPL 190.60 Increased By ▲ 3.48 (1.86%)
PRL 43.04 Increased By ▲ 0.98 (2.33%)
PTC 25.04 Increased By ▲ 0.05 (0.2%)
SEARL 106.41 Increased By ▲ 6.11 (6.09%)
SILK 1.02 Increased By ▲ 0.01 (0.99%)
SSGC 42.91 Increased By ▲ 0.58 (1.37%)
SYM 18.31 Increased By ▲ 0.33 (1.84%)
TELE 9.14 Increased By ▲ 0.03 (0.33%)
TPLP 13.11 Increased By ▲ 0.18 (1.39%)
TRG 68.13 Decreased By ▼ -0.22 (-0.32%)
WAVESAPP 10.24 Decreased By ▼ -0.05 (-0.49%)
WTL 1.87 Increased By ▲ 0.01 (0.54%)
YOUW 4.09 Decreased By ▼ -0.04 (-0.97%)
BR100 12,137 Increased By 188.4 (1.58%)
BR30 37,146 Increased By 778.3 (2.14%)
KSE100 115,272 Increased By 1435.3 (1.26%)
KSE30 36,311 Increased By 549.3 (1.54%)

South Africa's ruling ANC celebrated a dominating lead in an election that will install Jacob Zuma as president and put him under immediate pressure to deal with a faltering economy and improve the lives of the poor. The African National Congress held 66.50 percent of the vote according to latest results, close to keeping the two-thirds majority it would need to change the constitution and further strengthen its hold, a matter of concern to markets.
Thousands of ruling party supporters danced into the night to celebrate the ANC's success in the face of the toughest opposition challenge since the end of apartheid in 1994. Despite the failure of a party of ANC dissidents to make a dramatic impact, the ANC appeared to be just short of the nearly 70 percent of the vote it won in 2004 and to have lost control of the Western Cape province, centre of the tourist industry. Zuma, due to be sworn in early next month, will be under pressure to deliver from day one.
"Zuma tapped into a dramatic change in the mood of South Africa's poor black majority. Forgotten by the elite, they have run out of patience and are now demanding the economic dividends of democratic rule," political commentator William Gumede said.
"He is unlikely to have the honeymoon period enjoyed by past ANC governments. If he fails to deliver, the poor will also turn against him". The rand currency firmed against the dollar to a new 6-1/2-month high, aided by a strong euro and as investors responded to a peaceful vote with the result expected.
The ANC has given repeated assurances it has no plan to change the constitution even with a two-thirds majority. "All we need is enough power to implement our programmes without being disturbed in implementing our manifesto," said ANC spokeswoman Lindiwe Zulu. "We've exceeded our expectations."
A reinvigorated opposition had hoped to at least curb the majority to below two-thirds, but for many voters the ANC's credentials from the fight against white minority rule still outweigh its failure to tackle crime, poverty and AIDS. The Congress of the People (COPE), formed by politicians who broke from the ruling party, had won only 7.50 percent with 88 percent of votes counted.
The ANC's closest rival was the Democratic Alliance (DA) - led by a white woman - with 16.02 percent. The DA pulled ahead of the ANC in the Western Cape province, which is currently controlled by the ANC. Election officials estimated the turnout at 76 percent, the same as in 2004. Observers from the 15-nation Southern African Development Community and African Union said on Friday the election was free and fair.

Copyright Reuters, 2009

Comments

Comments are closed.