Probably means end of the GNU, with all the smaller parties joining the ANC for GNUv2.
Short term gain, with severe long term pain. This is the standard ANC operating procedure, as long as the current cadres can extract maximum, it shall be so.
The smaller parties will be annihilated at the ballots come next election cycle, and form the basis for more stable coalitions with less partners. Long term, this is a good thing. Parties like AlJammahamamama-haman-hamana, BOSA, Rise, ASA will simply be wiped from the map. It will start at the source of funding, which translates to the actual votes.
And with such a narrow margin, the ANC have saddled up a horse that they will not enjoy to ride. So many concessions to keep everybody aligned, it's going to be ANC-death-by-a-thousand-cuts. But it will give the current ANC cadres some breathing room to grow those swiss bank accounts.