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Will the economy benefit when voters hit the poles in the 2014 South African elections?

by , 18 March 2014

The 2014 South African elections are less than two months away. And already, the political promises are heating up. But with rampant strikes in key economic sectors, poor service delivery and crippling unemployment rates shadowing the previous term, can we really expect things to change this time around? To answer that, today we're investigating whether the economy will benefit from these elections or not …

Promises, promises, promises: Will anything change once the 2014 South African elections roll by?

As the Mail & Guardian notes: “South Africa is just shy of two months away from the 2014 national elections and some parties have called it a potential game-changer for the electoral landscape.”

The reason?

On the one hand, stands the ruling party touting 20 years of a “successful” democracy. On the other, stands would-be opposition parties like the DA and EFF pointing out just how flawed those years of democracy have been.

And who could blame them? Never before has education, unemployment, the public sector (to name just a few) been in such turmoil. Because of this, they’re demanding South African’s vote for change on the 7th of May.

But will it happen?

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Revealed: What the likely economic impact of the 2014 South African elections will be

While the ANC is expected to win the elections again this year, political analysts expect it won’t be with the amount of party seats it’s used to.

But there are some changes they expect could have a positive impact on the economy.

The first of these, says the staff at FinWeek, is that Cyril Ramaphosa could become the Deputy President. As a successful businessman and former trade unionist, he’ll be a stabilising economic factor in the eyes of the rest of the world.

In addition, he also has enough clout to help deal with union fall-outs, like the one we’re currently experiencing in the platinum sector, and drive the economy forward by focusing on REAL plans to curb unemployment.

The other change is the long-anticipated resignation of finance minister, Pravin Gordhan. The person who follows his footsteps will have a major impact on the economy. While some believe his deputy, Nhlanhla Nene will fill this post, hopes are that former Reserve Bank Governor, Tito Mboweni will fill it instead.

Mboweni is a well-known face in the global economic landscape. If he takes on the roll, we’re likely to see a positive reaction to how the rest of the world views the South African economy.

So there you have it: While the outcome of the 2014 South African elections is unlikely to make much of a wave, if these two positions are favourable filled the positive economic sentiment they’ll generate can’t be ignored.



Will the economy benefit when voters hit the poles in the 2014 South African elections?
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