South African President Ramaphosa said on the 15th local time that as the African National Congress (ANC) led by him did not win an absolute majority in the current election, he will work to reach an agreement with other political parties, including the largest opposition party, the Democratic Alliance, to form an inclusive national unity government. The new National Assembly of South Africa (the lower house of parliament) held its first meeting in the legislative capital, Cape Town, on the 14th. ANC President and current President Ramaphosa was re-elected as president at the meeting and won re-election. In the current election, the ANC led by Ramaphosa won 159 seats out of 400 seats in the National Assembly, maintaining its position as the largest party, but not achieving a majority. According to the plan, Ramaphosa will be sworn in as President in the administrative capital, Pretoria, on the 19th of this month.

On June 15th, Jin Shi Data reported that the African National Congress (ANC), the ruling party of South Africa, President Ramaphosa, was elected as the President of South Africa in the first meeting of the National Assembly of the new session and was re-elected. On the same day, the first meeting of the new National Assembly was held in Cape Town, the legislative capital of South Africa. The newly elected members voted for the president after electing the Speaker and Deputy Speaker. After the counting was over, the Chief Justice of South Africa, Mogoeng, announced that Ramaphosa had won 283 votes and was elected as the President of South Africa according to the voting results.

The ruling African National Congress (ANC) ranked first in the National Assembly (lower house of parliament) election with 40.25 percent of the vote, according to preliminary vote counts released by the Independent Electoral Commission of South Africa on June 1. According to the South African Independent Electoral Commission's count of more than 99% of the votes, the ANC received 40.25% of the votes; The largest opposition party, the Democratic Alliance, came in second with 21.70% of the votes; In third place was the newly formed "National Spear Party", with 14.68% of the vote. Analysts said the party would seek to join forces with other parties to ensure it remained in power, given that the ANC did not get 50 percent of the vote and did not gain a longest number of seats.

Coin Network reports: South Africa will hold a general election on May 29, and the Crypto Assets industry is in the spotlight. The FSCA has issued a licensing system to regulate digital money companies in the country, and three companies have been licensed. The ANC has been in power for almost 30 years, but now faces challenges that may require alliances with other parties. Some experts believe that politics will not affect the country's Crypto Assets policy. The Ministry of Finance said the fintech working group will study the use cases and policy responses for stablecoins

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