African National Congress

The African National Congress (ANC) is South Africa's governing political party and one of the oldest liberation movements on the continent. Founded in 1912, it led the decades-long struggle against apartheid before becoming the ruling party after the country's first democratic elections in 1994. The ANC has governed South Africa continuously since then, though its parliamentary majority narrowed sharply in the 2024 elections, prompting it to enter a Government of National Unity with other parties. Its policy positions shape national economic strategy, including fiscal policy set by the National Treasury and infrastructure priorities affecting municipalities such as Johannesburg. The party has faced sustained criticism over governance failures linked to loadshedding, deteriorating municipal finances and water-supply shortages in cities it governs. Internal factionalism and allegations of corruption during the era of state capture damaged its reputation and contributed to credit-rating pressure from agencies such as Moody's Ratings. Senior ANC figures, including Finance Minister Enoch Godongwana, hold key economic portfolios that influence investor sentiment and the Johannesburg Stock Exchange. The party's alliance with the Congress of South African Trade Unions and the South African Communist Party remains central to its political base. Its historical leaders include Nelson Mandela, Oliver Tambo and Walter Sisulu. The ANC's performance and policy direction continue to be closely watched by investors and rating agencies assessing South Africa's economic outlook.