The rand’s recent strength is not a reflection on any home-grown improvements, but rather international factors playing out, redirecting foreign capital to higher yielding emerging markets such as South Africa.
There is no doubt that the recent municipal elections have been the most exciting for years, with the possibility of change and hope for a better future.
The ANC has been accustomed to securing over 60% of the electorate voting in its favour in past elections. This time however, the ANC was given a run for its money. Although it was widely expected that the ANC would probably drop below 60% in the most recent election, very few expected it to be below 55% .
In turn this has been very uplifting for opposition parties who have gained stronger support from the electorate and is very positive for a young democracy such as South Africa.
This has also given South Africans a much needed boost of confidence for our battered and bruised psyche, especially after being bombarded over the past few years with bad news after bad news. Whether it was falling commodity prices, electricity shortages, the drought, political scandals, high unemployment numbers, or Nenegate there hasn’t been much to be elated about till now.
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