The African National Congress's latest electoral setback will likely fuel tensions within South Africa's coalition government, and while the Democratic Alliance is likely to sustain cooperation with President Cyril Ramaphosa through 2027, left-wingers are now in a stronger position to take over the ANC, which would likely collapse the government and trigger a negative shock in South African markets. On Nov. 8, South Africa's Independent Electoral Commission unveiled the final results of the country's Nov. 4 municipal elections, showing the left-leaning ANC securing just 30.8% of the vote, down from 45.6% in the 2021 municipal elections. Although the center-right Democratic Alliance, or DA, only modestly increased its nationwide vote share to 24.6%, it emerged as the largest party in the municipalities of Johannesburg, the country's largest city, and Tshwane, where the country's administrative capital Pretoria is located, with the DA securing over 34% of votes in both locations.