There has been a positive response to the markets as ballots continue to be tallied for the 2019 elections.
The rand firmed in early trade on Thursday after South Africans took to the polls to make their mark this week.
Economist at Nedbank Busi Radebe perceives the consumer confidence as a 'sentiment'.
She explains that reforms need to be put in place.
It cannot be based on any fundamentals out there because just as we saw in the first half of last year, the economy had been so degraded over the previous nine years that even though I am positive and there is a change in leadership, I can't eat sentiment.— Busi Radebe, Economist - Nedbank
After this I should see reforms come about, when I see that, then I think the fundamentals are there but right now it is sentiment and I don't think you can eat sentiment.— Busi Radebe, Economist - Nedbank
Pan-African Investment and Research Chief Economist Dr Iraj Abedian says however, there should be no underestimation of the fact that this was a peaceful election.
He adds that while it may be an element of the so called second wave of 'Ramaphoria' but the rand is also subject to global factors.
It was peaceful by in large, things went relatively smoothly.— Dr Iraj Abedian, Chief economist - Pan-African Investment and Research
There is now almost convincing evidence that the ANC is going to have an outright majority. Remember it was a few days back, there has been all kinds of speculation about a potential coalition government which would have been a disaster for this economy.— Dr Iraj Abedian, Chief economist - Pan-African Investment and Research
Wits School of Economic and Business Science economist and senior lecturer at Lumkile Mondi says the market wants a party that has overwhelming support from the electorate.
He says there has been a lot of confidence placed in President Cyril Ramaphosa himself.
They believe he is the person who will drive those special reforms but is required to bring South Africa back to investment grade, as well as address the structural challenges embedded in our economy.— Lumkile Mondli, Economist and senior lecturer - Wits School of Economic and Business Science
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