PRETORIA, (Reuters) – South Africa’s ruling ANC was set to fall just short of the votes needed to keep the two-thirds parliamentary majority that would allow it to change the constitution and further strengthen its hold.
The margin is mostly symbolic given the size of the victory, but financial markets wary of any policy shift to the left under the presidency of African National Congress leader Jacob Zuma may be pleased to see a greater check on the party’s power.
With well over 95 percent of ballots counted from yesterday’s election, the ANC had just over 66 percent. It needs 66.7 percent to get the two-thirds — still just possible on paper but difficult in practice.
Electoral officials were expected to complete the count today.
Although a newly-formed party of ANC dissidents has failed to make a dramatic impact, the ruling party is set to see its share of the vote fall for the first time since the end of apartheid in 1994. It won nearly 70 percent in 2004.
The ANC also lost control of the Western Cape province, centre of the tourist industry, to the official opposition Democratic Alliance, led by Helen Zille, a white woman. But the ANC celebrated what was still an overwhelming victory under the leadership of Zuma, who three weeks ago succeeded in getting a court to drop graft charges his supporters say were politically motivated.
The party’s credentials for ending white minority rule were more important for many voters than its doubtful record on fighting poverty, violent crime and AIDS.
“The ANC has been given a clear and resounding mandate,” senior party official Matthews Phosa told thousands of cheering supporters at a victory party in Johannesburg.
The ANC’s closest rival was the Democratic Alliance (DA) with almost 16.5 percent. The Congress of the People (COPE), formed by politicians who broke from the ruling party, stood below 7.5 percent.
The rand currency firmed well over 2 percent against the dollar to a new 6-1/2-month high late yesterday, aided by a strong euro and higher stocks as well as the smooth election.
Despite some market concerns over whether the ANC would get the two-thirds majority, the party has repeatedly emphasised that it has no intention of changing the constitution.