Coalition negotiations between South Africa’s struggling African National Congress (ANC) party and its political rivals are creating a tense atmosphere for investors and advisers after a historic vote that saw the ANC lose its majority for the first time in 30 years.

President Cyril Ramaphosa’s ANC won only 159 seats out of 400 in the hotly contested election. Official results were announced June 2 and politicians are scrambling to meet a two-week constitutional deadline to elect a new president and form a minority government by June 18.