South Africa's 2024 general elections on May 29 were the most closely contested in three decades of its multiracial democracy. The ruling African National Congress (ANC) secured 40.2% of the votes, while the main opposition party, the Democratic Alliance (DA) followed with 21.8%. Although, with the lowest voter turnout of 58.6% (16.3 million) out of 27.8 million registered voters since 1994, South African citizens made a statement with their ballot. The tight race between the top two parties and increased vote percentages for smaller parties reflected the electorate's shift in sentiment after the ANC's long-standing dominance since the end of apartheid in 1994.
This report assesses the election result's implications for South Africa’s political landscape and discusses its potential impact on its macroeconomic environment and power sector.
Political Landscape: South Africa’s Post-Elections
The ANC had dominated South African politics for the past three decades preceding the election. After taking power under Nelson Mandela in the
