If ANC loses majority, what next?

If the ANC is confirmed to have lost its majority, as early results indicate, there could be two weeks of intense and complex negotiations to agree on how to form a new government.

Here are two analysts' views:

"There will be checks and balances on the ANC power, but the ultimate risk is that the infighting could make governance ineffective," said Simon Harvey, head of foreign exchange analysis at Monex Europe.

With South Africa entering uncharted political territory, Harvey said the speed at which a coalition could be formed would be an indication of what was to come. "If it is protracted, you may start to worry about a political gridlock going forward," he said.

Tessa Dooms, director of the Rivonia Circle think-tank in Johannesburg, said the early results were skewed towards rural areas where she would have expected the ANC to be performing more strongly than it was. 

"The rural vote comes in early and it's always much smaller. The urban vote comes in quite late. I think this election will be a lot more contested in the urban areas," she said.

"MK is also going to be a real player. That it tracks close to the EFF is significant because they are going after the same voters."

Reuters