100 days of GNU: 'The markets are in love with it!'
Instability remains at a municipal level, but nationally the GNU is steady, says political scientist Mbasa Mvenene.
Newly sworn-in Cabinet ministers pose for a photo with Chief Justice Raymond Zondo and President Cyril Ramaphosa on 3 July 2024. Picture: GCIS
Zain Johnson (in for Africa Melane on 702 and CapeTalk) speaks with Mbasa Mvenene, a Political Scientist and Political Studies lecturer at Walter Sisulu University.
Listen below.
The Government of National Unity (GNU) is perceived as having brought some stability to South Africa following the national elections in May, in which the ANC lost its outright majority for the first time.
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However, critics believe it is repeating past policies without making real changes.
Mvenene says the markets and international investors have responded well to the GNU, and the rand has strengthened.
“The markets are completely in love with the GNU.”
- Mbasa Mvenene, Political scientist - Walter Sisulu University
Interest rates are coming down for the first time in four years and fuel prices have dropped.
Mvenene says there is still instability at the municipal level, but nationally the GNU appears stable.
“It shows policy continuity and predictability. This is what investors want to see.”
- Mbasa Mvenene, Political scientist - Walter Sisulu University
However, he says that the GNU has not shown any real improvements in unemployment, arguing that the major parties are not aligned on what is needed to create jobs.
Despite this, he believes the GNU will stay together until the 2029 elections.
Scroll up to the audio player to listen to the interview.