Stakes are high as political parties are confronted with a power-sharing reality
Almost two weeks after the ANC lost its majority at the May 29 elections, the new administration now has a small window to elect a new president in the National Assembly.
FILE: Refurbishment after Parliament was gutted by a fire in January 2022. Picture: Supplied
JOHANNESBURG - Investec CEO Fani Titi says the stakes are high as political parties meet to discuss the Government of National Unity (GNU) proposal.
Almost two weeks after the African National Congress (ANC) lost its majority at the May 29 elections, the new administration now has a small window to elect a new president in the National Assembly.
But tense talks between parties are yet to be concluded.
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The ANC's proposal to partner with more than one party on the opposition benches has seen a flurry of responses from political rivals, labour unions, and big business.
The different sectors have weighed the implications of a Government of National Unity.
Investec CEO Fani Titi says the ANC and the other parties who co-sign the agreement must apply a steady hand to prevent economic damage.
"If we make the wrong choices, we are likely to see significant capital outflows, we’re likely to see less employment and the country could see a quagmire for a very long time so it’s a pretty important period for our country.”
He says political maturity must prevail to ensure policy certainty and stability.
“Because our country requires not only economic progress but also social cohesion.”
This is expected to be the final week of deliberations between parties.