{"id":65201,"date":"2024-04-27T17:26:25","date_gmt":"2024-04-27T17:26:25","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/limiting-coalitions-best-for-south-african-businesses-capitec-ceo"},"modified":"2024-04-27T18:37:51","modified_gmt":"2024-04-27T18:37:51","slug":"limiting-coalitions-best-for-south-african-businesses-capitec-ceo","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/limiting-coalitions-best-for-south-african-businesses-capitec-ceo","title":{"rendered":"Limiting coalitions best for South African businesses \u2013 Capitec CEO"},"content":{"rendered":"

Africa-Press – South-Africa. <\/strong><\/span>Capitec CEO Gerrie Fourie said limiting coalitions after the elections this year would be the best for South Africa from a business perspective.<\/p>\n

South Africans will vote on 29 May in what has been called the country\u2019s most uncertain elections since the dawn of democracy.<\/p>\n

This is because polls indicate that votes for the ruling ANC could dip below 50% for the first time in 30 years.<\/p>\n

Many believe this will see the ANC partner up with smaller parties to form a coalition government and stay in power.<\/p>\n

Fourie said that while they are keeping an eye on the elections, it is not a major concern \u201cbecause there are so many permutations and so many possibilities\u201d.<\/p>\n

\u201cLet\u2019s see what happens on that day and then take it from there. I think we are in for uncertainty.\u201d<\/p>\n

However, he said, \u201cFrom a business perspective, if coalitions are limited, it will be the best for South Africa\u201d.<\/p>\n

He explained that decision-making is slow with coalition parties, and South Africa does not have a good record with them.<\/p>\n

Many South African business leaders believe the 2024 elections will not result in significant policy changes as the ruling ANC will remain the dominant political force, and its reform agenda will remain in place.<\/p>\n

Standard Bank Group CEO Sim Tshabalala said in the company\u2019s latest annual report that its base case is that the country\u2019s policies will remain largely unchanged.<\/p>\n

\u201cOur base case is that policy continuity will be largely maintained after the election, including the current administration\u2019s programme of structural reform, a path that will gradually improve South Africa\u2019s economic performance,\u201d he said.<\/p>\n

However, Tshabalala said uncertainty in the build-up to the election will limit investment in South Africa and, thus, economic growth.<\/p>\n

The bank\u2019s South Africa CEO, Lungisa Fuzile, echoed Tshabalala\u2019s statement that no fundamental changes are expected as a result of the election.<\/p>\n

\u201cWe do not anticipate that the election outcome will lead to a change in policy direction. Accordingly, the continued gradual policy reform should be growth-supportive over time,\u201d Fuzile said.<\/p>\n

Outgoing Nedbank CEO Mike Brown said on the sidelines of the World Economic Forum earlier this year that the ANC will be central to any future government in South Africa.<\/p>\n

The collapse of state-owned enterprises and state-run institutions has led many to believe the country needs political change and that change will occur in this year\u2019s elections.<\/p>\n

However, Brown does not believe the ANC can be dismissed as a political force, and its policies will continue to be those of the national government for some time.<\/p>\n

\u201cIf you stand back and look at it from a policy point of view, the polls may indicate the ANC is losing support, but central to any government going forward will be the ANC and the policies they currently have,\u201d he said.<\/p>\n

The ANC\u2019s policies are largely correct in addressing South Africa\u2019s major challenges but have taken far too long to implement.<\/p>\n

\u201cCertainly, as business, we would want accelerated delivery of government\u2019s stated economic policies because that is what is hindering economic growth.\u201d<\/p>\n

Rating agency Fitch also said at the beginning of the year that the ANC could lose its majority in the 2024 election but that this would not lead to major changes in economic policy.<\/p>\n

Under elevated socio-political risks, Fitch listed the ANC\u2019s bid for power in the 2024 general election.<\/p>\n

It said the ANC\u2019s dominance over the country\u2019s political landscape has been challenged since the party\u2019s poor performance in the November 2021 municipal elections.<\/p>\n

\u201cWe believe the party could lose its majority in the May 2024 general election, but this would be unlikely to result in major changes in economic policy,\u201d the agency said.<\/p>\n

For More News And Analysis About South-Africa<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. Capitec CEO Gerrie Fourie said limiting coalitions after the elections this year would be the best for South Africa from a business perspective. South Africans will vote on 29 May in what has been called the country\u2019s most uncertain elections since the dawn of democracy. This is because polls indicate that votes […]<\/p>\n","protected":false},"author":84,"featured_media":65200,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[274,315,275],"class_list":["post-65201","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nLimiting coalitions best for South African businesses \u2013 Capitec CEO - South Africa<\/title>\n<meta name=\"description\" content=\"Capitec CEO Gerrie Fourie said limiting coalitions after the elections this year would be the best for South Africa from ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/limiting-coalitions-best-for-south-african-businesses-capitec-ceo\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Limiting coalitions best for South African businesses \u2013 Capitec CEO\" \/>\n<meta property=\"og:description\" content=\"Capitec CEO Gerrie Fourie said limiting coalitions after the elections this year would be the best for South Africa from ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/limiting-coalitions-best-for-south-african-businesses-capitec-ceo\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-04-27T17:26:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-04-27T18:37:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/04\/sm_1714230393.989198.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"675\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/limiting-coalitions-best-for-south-african-businesses-capitec-ceo#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/limiting-coalitions-best-for-south-african-businesses-capitec-ceo\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Limiting coalitions best for South African businesses \u2013 Capitec CEO\",\"datePublished\":\"2024-04-27T17:26:25+00:00\",\"dateModified\":\"2024-04-27T18:37:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/limiting-coalitions-best-for-south-african-businesses-capitec-ceo\"},\"wordCount\":642,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/limiting-coalitions-best-for-south-african-businesses-capitec-ceo#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2024\/04\/sm_1714230393.989198.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"policy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/limiting-coalitions-best-for-south-african-businesses-capitec-ceo#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/limiting-coalitions-best-for-south-african-businesses-capitec-ceo\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/limiting-coalitions-best-for-south-african-businesses-capitec-ceo\",\"name\":\"Limiting coalitions best for South African businesses \u2013 Capitec CEO - 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