Political economy advisory

Helping clients navigate the interplay between politics, policy and economics

Krutham’s political economy practice helps clients understand how politics, policy and institutional dynamics shape economic outcomes, investment risk and market confidence. We advise portfolio and foreign investors, financial institutions and corporate leaders in South Africa and offshore, combining political analysis, policy expertise and macroeconomic insight. Our work spans ongoing subscription advisory and targeted once-off engagements, focused on how political and policy dynamics evolve over time.

The Krutham approach

We focus on how political and policy dynamics interact over time rather than reacting to isolated events. Our work assesses reform momentum, policy credibility and institutional capacity to support informed decision-making in complex and uncertain environments.

Tracking reform from intent to delivery

We analyse regulatory and policy developments with a focus on structural reform. This includes monitoring reform priorities, delivery constraints and implications for growth, investment and financial markets.

Beyond-the-headlines political analysis

We analyse South African politics beyond daily news cycles. This has become increasingly important with the growth of coalition politics across national, provincial and local government. Our political analysis examines incentives, power dynamics and institutional context to assess policy credibility, reform momentum and implementation risk.

Foreign policy through a trade and investment lens

We assess South Africa’s bilateral and multilateral engagements, as well as foreign policy developments, in terms of their implications for trade, investment, market access and political risk. .

Proven results

Election analysis and advisory

During the 2024 national and provincial elections, we delivered structured political analysis through the Krutham Election Conversations series. This work examined electoral scenarios, coalition outcomes and post-election risks. This work helped clients assess electoral scenarios, coalition outcomes and post-election risks, supporting decision-making on investment timing, political exposure and strategic positioning.

International political economy analysis

We have delivered ongoing analysis of US-South Africa relations, focusing on political, economic and trade dimensions. This work has supported clients in assessing bilateral risk and opportunity, particularly in relation to trade access, policy alignment and geopolitical exposure.

Legislative monitoring and policy intelligence

We produce a bi-annual Legislation Update that tracks bills in parliament and their progression. This work provides clients with a consolidated view of legislative developments relevant to policy risk and regulatory exposure.

Comprehensive capabilities

Coalition risk analysis

We analyse coalition dynamics across national, provincial and local government. This includes assessing coalition stability, decision-making incentives and implications for policy continuity and implementation.

Parliamentary and legislative analysis

We monitor parliamentary activity and legislative processes, including the progression and substance of key bills. Our analysis focuses on legislative timelines, policy direction and implementation pathways. This enables assessment of regulatory risk, policy certainty and the durability of legislative outcomes.

Reform tracking and implementation analysis

Reform tracking is a core aspect of our political economy work. We monitor structural reforms from announcement through the legislative process to implementation. Our analysis addresses reform momentum, institutional capacity and delivery risk. This helps clients distinguish between stated reform intent and realised outcomes.

Geopolitical and foreign policy analysis

We analyse South Africa’s bilateral and multilateral engagements from an economic and financial perspective. Our work focuses on implications for trade, investment, capital flows and market risk.

Thought leadership

“Bankability of metros themselves and their projects (particularly infrastructure) remains a challenge, and the entrenchment of coalitions does not provide reason for optimism given the instability that metros have experienced as a result. However, the Operation Vulindlela’s local government reforms may enhance the ability of metros to secure credit and insulate the administrative side from potential political instability through ringfencing.”

Understand political risk before it hits markets.

We work with investors, financial institutions and corporate leaders operating in politically complex environments shaped by reform agendas, institutional constraints and shifting power dynamics. Our role is to cut through political noise, highlight decision-relevant risks and opportunities and provide clear, grounded political economy insight to support organisational strategy, investment decisions and policy engagement.