PRETORIA—South Africa's ruling ANC will fall just short of the two-thirds of votes needed to ensure a parliamentary majority big enough to make sweeping changes unchallenged, election results showed on Saturday.
The margin that would let the ANC change the constitution is largely symbolic, but financial markets wary of a policy shift to the left under the presidency of African National Congress leader Jacob Zuma may welcome a limit on the party's power.
With votes from only one district left to be announced after Wednesday's election, the ANC had just over 66 percent support. It needed 66.7 percent to be sure of the two-thirds of parliamentary seats. That no longer appeared achievable.
Electoral officials were expected to announce a result formally on Saturday. They will also have to calculate the number of seats each party will get.
Although a newly-formed party of ANC dissidents has failed to make a dramatic impact, the ruling party has seen its share of the vote fall for the first time since the end of apartheid in 1994. It won nearly 70 percent in 2004.
The ANC also lost control of the Western Cape province, centre of the tourist industry, to the official opposition Democratic Alliance, led by Helen Zille, a white woman.
But the ANC celebrated what was still an overwhelming victory under the leadership of Zuma, who just three weeks ago succeeded in getting a court to drop graft charges his supporters say were politically motivated.
"Resounding mandate"
The party's credentials for ending white minority rule were more important for many voters than its doubtful record on fighting poverty, violent crime and AIDS."The ANC has been given a clear and resounding mandate," senior party official Matthews Phosa told thousands of cheering supporters at a victory party in Johannesburg.
The ANC's closest rival was the Democratic Alliance (DA) with just over 16.5 percent. The Congress of the People (COPE), formed by politicians who broke from the ruling party, stood at just over 7.4 percent.
Democratic Alliance supporters celebrated in Western Cape after the party took control in the region, where coloured people of mixed race descent outnumber black Africans.
"We will try to govern as well as we can to show that life is better for everybody under the DA," party leader Zille was quoted as saying by the SAPA news agency.
The rand currency firmed well over 2 percent against the dollar to a new 6-1/2-month high late on Friday, aided by a strong euro and higher stocks as well as the smooth election.
Despite some market concerns over whether the ANC would get the two-thirds majority, the party has repeatedly emphasised that it has no intention of changing the constitution.
Zuma, 67, has also assured investors he will not be dropping policies they are comfortable with, even though his trade union allies want more help for the poor.
Finance Minister Trevor Manuel, a market favourite, also looks set to stay at a time when South Africa faces its first recession in 17 years.
Electoral officials estimated the turnout at more than 77 percent, a little higher than in 2004.
