Near-final counts point to the ANC’s weakest local showing since 1994, raising borrowing costs and rand volatility.
MoneyTurkey Politics Desk | 6 November 2026
Key points
- With about 95% of the national vote counted on Friday night, the ANC stood at 31.2% nationally, down from 45.59% in the 2021 local elections on the IEC Ward + PR combined basis.
- The Democratic Alliance was near 24.4% and the MK Party near 9.6%; IOL, citing the IEC dashboard, said 110 councils were hung.
South Africa’s African National Congress is on course for its weakest local election result since the end of apartheid, near-final counts released on Friday showed. With about 95% of votes tallied on Friday night, the party held 31.2% nationally, well below the 45.59% it recorded on the IEC Ward + PR combined national tally in the 2021 municipal vote, according to the Electoral Commission of South Africa dashboard as reported by IOL. The drop follows the ANC’s loss of its parliamentary majority in the 2024 national election and raises the prospect of wider coalition governments in major cities.
What happened
IOL, citing the IEC dashboard on Friday night with about 95% of the national vote counted, put the ANC at 31.22%, the Democratic Alliance at 24.43% and Jacob Zuma’s MK Party at 9.61%. Rounded, that is about 31.2%, 24.4% and 9.6%. The same report said 110 municipal councils were hung without an outright winner. ANC spokesperson Mahlengi Bhengu acknowledged the setback, saying the party would conduct “a serious, honest and deep reflection” on how to regain voter trust.
In Johannesburg, the Democratic Alliance held the lead, though no party reached an outright majority. DA leader Geordin Hill-Lewis said coalition talks would proceed on a case-by-case basis. In eThekwini, which includes Durban, the MK Party led the count in its first local contest.
Analyst Sandile Mnguni said voters were “no longer voting out of loyalty” and were judging parties on delivery. He warned that any party failing to perform would face similar losses.
What is at stake for markets
Coalition governments at city level control water, roads and waste services that underpin local economic activity. Prolonged negotiations could delay capital projects and raise operating costs for utilities and construction firms.
The rand and South African government bonds have historically moved on signs of political fragmentation. A weaker ANC showing increases the chance of fragmented councils and could lift the sovereign risk premium priced into local-currency debt.
Foreign investors track municipal outcomes for clues on service delivery and the stability of the national unity government formed after the 2024 national vote. Further erosion of ANC support could complicate budget negotiations and slow regulatory approvals in mining and energy.
Why it matters
The ANC has governed South Africa since 1994 but has lost ground steadily as unemployment remains high and basic services falter in many municipalities. Friday’s results extend that trend and test the durability of the unity arrangement struck with the Democratic Alliance and smaller parties at national level.
If coalition talks in Johannesburg and other metros drag on, the risk of service disruptions rises, feeding into higher local borrowing costs and pressure on the currency. Hung councils numbered 110 nationally on the Friday-night IEC stamp reported by IOL, underscoring how fragmented the municipal map has become.
The outcome also reinforces coalition politics at the centre of South African policy-making after the ANC’s loss of its parliamentary majority in 2024.
What to watch
- Final national tally and seat allocations by province
- Coalition agreements in Johannesburg, Tshwane and eThekwini
- Rand and 10-year bond yield reaction to confirmed results
- Cabinet statements on budget timelines and infrastructure spending
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For information only. Not investment advice.
Sources
- IEC Results Dashboard: https://results.elections.org.za/dashboards/lge/
- IOL (6 November 2026; ~95% counted Friday night; ANC 31.22% / DA 24.43% / MK 9.61%; 110 hung): https://iol.co.za/lge2026/2026-11-06-nightmare-on-election-street-as-110-councils-hung/
- IEC 2021 Local Government Election National Results Summary (Ward + PR combined ANC 45.59%): https://results.elections.org.za/home/LGEPublicReports/1091/Detailed%20Results/National.pdf
- The Citizen: https://www.citizen.co.za/news/south-africa/elections/heres-how-the-eight-metros-stand-as-the-iec-begins-to-wrap-up-results/
- Reuters: https://www.reuters.com/world/africa/south-africas-anc-32-da-24-municipal-vote-count-enters-final-stretch-2026-11-06/
