South Africa: Ruling ANC is losing its grip on power - BBH

Research Team at BBH, notes that early results of South African elections show that the ruling ANC is losing its grip on power. 

Key Quotes

“The Independent Electoral Commission released early returns showing the ANC trailing in the capital Pretoria, Johannesburg, and Port Elizabeth, confirming the opinion polls.  While this would be a long-term positive, we believe that the ANC will try to buy its way out of this situation by opening up the fiscal spigots ahead of the 2019 national elections.  That would likely help trigger the ratings downgrades we’ve been warning about.”