Two more South African political parties have announced their intention to join the government coalition in the post-election negotiations, bringing the number of parties to nine that will participate in the future administration under the mandate of the country’s current president, Cyril Ramaphosa. The United Democratic Movement and Rise Mzansi agreed to join the so-called “national unity government” and participate in a proposed national dialogue, according to separate statements issued by the parties and reported by Bloomberg. Combined with other parties, starting with the African National Congress (ANC) and the Democratic Alliance, the coalition holds 258 of the 400 seats in Parliament. The other parties that have agreed to join the government are the Inkatha Freedom Party, the Patriotic Alliance, the GOOD party, the Pan Africanist Congress of Azania and the Freedom Front Plus. South African political parties began talks on Thursday about forming the next cabinet and an announcement on its structure is expected in the coming days. The composition of the next cabinet is being closely watched by investors who anticipate an acceleration of economic reforms under a government with a tendency closer to neoliberalism, after the electoral debacle of the ANC, destined to rule in a coalition after losing its historic majority in the elections. The national currency, the rand, has strengthened 4.6% so far this month as bonds and stocks have rallied on optimism over the continuation of pro-growth policies.
