Africa News blog
African business, politics and lifestyle
It would be hard for the leaders of South Africa’s COPE party to put a positive spin on its latest poll rating of just over 2 percent. If the breakaway group from the African National Congress gave the ANC a bit of a jolt before elections in April, the ruling party doesn’t seem to have much to worry about from that quarter now.
In terms of electoral success, it hasn’t been a good year for parties trying to challenge the former liberation movements that run most of southern Africa.
In Namibia, a breakaway group from the ruling SWAPO party emerged as the main opposition, but still only won just over 11 percent of the vote and complained of foul play. In Mozambique, Frelimo won another resounding victory, beating both old rival Renamo and the new MDM – which complained at the barring of some of its candidates.
Angola’s President Jose Eduardo dos Santos signalled to his MPLA party that he would wait another three years before a presidential election he is almost certain to win.
South Africa’s largest trade union federation was quick to break into stirring songs of class struggle during its recent congress and COSATU members showed an impressive ability to sign along in unison.
But the question of what it is fighting for these days and its role in the ruling tripartite alliance with the African National Congress and the South African Communist Party has never been under such great scrutiny as it has since President Jacob Zuma took office in May.
Recent events in South Africa have sent some conflicting signals to investors about sovereign risks. On the one hand there was some regulatory flip-flopping over the Vodacom listing given objections from the union organisation COSATU, which raised questions about the influence of unions in Jacob Zuma’s administration. On the other hand the sovereign issuing some $1.5 billion was highly successful and oversubscribed.
With Zuma recently elected on a platform of change for his domestic audience and continuation of old policies when speaking to investors, there is a raft of new ministers and new ministries and quite a bit of policy uncertainty. No foreign investor will deny South Africa’s need to address serious social problems of inequality, housing, jobs and education through a more developmental state agenda.