The local mining sector’s in the spotlight again. This time, the National Union of Metalworkers of SA (Numsa) days it “can’t vote for any other party,” despite disagreeing with the ANC about the National Development Plan (NDP).
The reason for the disagreement?
Here’s why Numsa and Cosatu are upset by the ANC’s NDP…
Numsa believes that while the NDP diagnosed the symptoms of South Africa's poverty and unemployment, it offers no concrete solutions, says Fin24
For example, the NDP focussing on exporting raw materials rather than improving local conditions.
"We don't want the DA to run this country, that is why we don't want DA policies in the NDP," said Numsa general secretary Irvin Jim in the article.
Added to this, Numsa and Cosatu are said to have no desire to support Mamphela Ramphele's new political platform, Agang.
So it looks like we can expect lots of politicking ahead of the next general elections in 2014. This, in turn, will affect the markets.
But where does that leave investors?
Have you thought about your investment strategy? Now’s the time to set it in stone!
Simply follow master investor Warren Buffet’s strategy of making set investment decisions now, ahead of the elections, and you should have a firm investment strategy in place.
That way, you won’t be bogged down by short-term issues, and you’ll have thought ahead, so you have firm long-term investment goals and you’ll know when you should get out of the markets and when to hang in there and wait for things to improve.
Buffett’s a strong believer in keeping things simple. As the most successful value investor in the world, he knows that sticking to an investment strategy that works is the only way to guarantee your long-term success, says FSP Invest.
Because “politics and government are like the weather – everybody talks about the subject but no-one really knows what to expect. The best you can do is have an investment strategy in place and stick to it,” advises Leon Kok in The South African Investor
It’s the only way to protect your investments from market instability ahead of next year’s elections. So work on your investment strategy now and stick to it!