South Africa’s Ramaphosa, DA Leader Near Deal on Cabinet Posts
(Bloomberg) -- The heads of South Africa’s two main political parties are nearing an agreement over how positions in the executive will be shared, according to people with knowledge of the matter.
Most Read from Bloomberg
Justice Department to Charge Boeing, Seeks Guilty Plea from Planemaker
Biden's Defiance Has Democrats Fearing They'll Lose White House
Biden Party Allies Close Ranks as Poll Signals Voter Concern
CLOs Have Too Much Money and Are Running Out of Things to Buy
President Cyril Ramaphosa, the head of the African National Congress, and Democratic Alliance leader John Steenhuisen met on Friday to resolve an impasse over the formation of the cabinet, said the people who asked not to be identified as the discussions were private.
Discussions are ongoing and a final decision has yet to be made, they said. An announcement on the new executive may be made in the coming days, two of the people said.
The two leaders are in discussions on the positions that will be shared, the people said.
“The last negotiations are still wrapping up,” DA spokesman Richard Newton said by phone. He declined to comment further. Calls to ANC spokeswoman Mahlengi Bhengu-Motsiri’s mobile phone didn’t connect.
Sign up here for the twice-weekly Next Africa newsletter
Any agreement on forming a cabinet will be welcomed by investors who anticipate the combination of the ANC under Ramaphosa and the centrist DA will lead to an acceleration of economic reforms needed to address the nation’s energy crisis, fix its collapsing ports and railways, and reduce crime and corruption.
Ramaphosa and Steenhuisen may face push-back to their agreement from some members of the decision-making bodies of both parties, who’ve yet to be consulted on the deal, the people said.
The agreement comes after ANC Secretary-General Fikile Mbalula said earlier on Friday that a deal on the next government is “almost done,” signaling that a dispute over cabinet posts had been resolved.
The rand rallied 1.6% on Friday — its biggest gain this year — on optimism that a deal was close.
You can follow Bloomberg’s reporting on Africa on WhatsApp. Sign up here.
--With assistance from Paul Vecchiatto and Amogelang Mbatha.
Most Read from Bloomberg Businessweek
Japan’s Tiny Kei-Trucks Have a Cult Following in the US, and Some States Are Pushing Back
The FBI’s Star Cooperator May Have Been Running New Scams All Along
RTO Mandates Are Killing the Euphoric Work-Life Balance Some Moms Found
How Glossier Turned a Viral Moment for ‘You’ Perfume Into a Lasting Business
©2024 Bloomberg L.P.