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STORY:

“It represents a victory for all the people of South Africa…”

South African President Cyril Ramaphosa praised the country’s election process Sunday...

Even though his once-dominant African National Congress party officially lost its majority for the first time ever.

“We have held another successful election that has been free, fair, credible and peaceful."

The ANC had its the worst election showing since it came to power 30 years ago, ending white minority rule.

It’s Africa's oldest liberation movement...

:: File

...once led by Nelson Mandela.

With South Africans angry over joblessness, inequality and rolling blackouts….

Support for the party fell to 40.2%, from 57.5% in 2019.

:: May 29, 2024

Official results showed the ANC won 159 seats in the 400-seat parliament, down from 230 in the previous assembly.

That means it must now share power, likely with a major political rival, in order to keep it.

It’s an unprecedented prospect in South Africa's post-apartheid history.

Parties now have two weeks to hash out a deal before a new parliament sits to choose a president.

The president would likely still come from the ANC, as it remains the biggest force.

Its poor showing has fueled speculation that Ramaphosa’s days might be numbered.

But the ANC has called that idea a “no-go.”

The Democratic Alliance, or DA, is the main opposition party.

It's white-led, pro-business and received nearly 22% of the vote.

Leader John Steeinhuisen said the party has appointed a negotiating team for coalition talks.

"The purpose of these initial talks will be to gather information of what options are available to the DA as we seek to rescue South Africa from doomsday.”

That doomsday, according to his party, would be a coalition between the ANC and far-left Economic Freedom Fighters, which received 9.5% of the vote.

Other competitors include MK - a new party led by former President Jacob Zuma - which took 14.6% of the vote.

The prospect of the ANC teaming up with either of those two parties has rattled South Africa's business community and global investors, who would prefer a coalition that brings in the DA.