PRETORIA: South Africa put on a display of pomp and ceremony on Wednesday (Jun 19) for Cyril Ramaphosa's inauguration as president for a second term that will see his African National Congress share power with other parties after it lost its majority in parliament.
Cyril Ramaphosa gestures after taking the oath of office for his second term as South African President at the Union Buildings in Pretoria, South Africa, 19 Jun 2024. PRETORIA: South Africa put on a display of pomp and ceremony on Wednesday for Cyril Ramaphosa's inauguration as president for a second term that will see his African National Congress share power with other parties after it lost its majority in parliament.
While investors have welcomed the inclusion of the DA, which wants to boost growth through structural reforms and prudent fiscal policies, analysts say sharp ideological divisions between the parties could make the government unstable. Ramaphosa has yet to announce the make-up of his new government, which he will have to negotiate with members of the new alliance.
A former liberation movement, the ANC came to power under Nelson Mandela's leadership in the 1994 elections that marked the end of apartheid. Once unbeatable, it has lost its shine after presiding over years of decline.
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