Published: Sat, April 08, 2017
Worldwide | By Sean Reid

New South Africa finance minister Gigaba calls for radical reform


As concerns grew that loyalists of the president might see an opening for graft, he added: "South Africa is not for sale". "However it is to ensure that such decisions made can be owned, justified and defended by the leadership collective in the interest of the ANC and the people of South Africa", says Mkhize.

Axed finance minister, Pravin Gordhan is calling for mass mobilisation against the current problems facing the country. "We have a weaker currency, we are likely to get a weaker currency and that's going to have an impact on interest rates and inflation", economist Mike Schussler said.

Analysts have said such populism is aimed at the ANC's rural political base.

The inexperienced finance minister said he would also consult Gordhan for advice.

Gordhan was in the midst of his yearly investor roadshow to the United Kingdom and the U.S., trying to convince ratings agencies that the country is politically stable, when he was summarily hauled back home by Zuma.

"Whatever has happened doesn't mean we won't be professional", Gordhan said in his farewell press event where many supporters gave him a standing ovation. Home Affairs Minister Malusi Gigaba replaced Gordhan.

Gordhan became South Africa's finance minister after Zuma's abrupt decision in December 2015 to fire Finance Minister Nhlanhla Nene and replace him with David van Rooyen, a relatively unknown figure, which unsettled markets and prompted a national outcry.

AP SPIN METER: Was Trump joking on health care?
He needs to hear from doctors, nurses and hospital administrators who are on the front lines of providing health care. And Democrats indicated they have no interest if his intent is still to dismantle Obamacare.

Jurgen Klopp Delivers Grim Injury Update To Liverpool Fans
The loss of his pace and power meant they found it more hard to break teams down and they scored just four goals in his absence. Liverpool now sit in third place, with 60 points, but the rest of the top four has a game in hand on Jurgen Klopp 's men.

More Advertisers Pull Out of Bill O'Reilly's Show
However, the scandal appeared to have little effect on ratings or advertising for the nation's most-watched cable news network. In a statement , Hyundai said it wanted to work with companies that "share our values of inclusion and diversity".

He said both he and Jonas had joined the liberation struggle as youths to help bring South Africa to where it is today.

President Jacob Zuma's midnight sacking of the widely-respected Gordhan shook South African markets on Friday, undermining his authority and threatening to split the ANC that has governed since the end of apartheid. The famously adept political organizer called on South Africans to mobilize. "Ministers who have been moved, the majority of them are performing ministers", Mantashe told Talk Radio 702. "South Africans must not pay for nonsense that happens elsewhere", News 24 quoted Gordhan as saying.

It is unclear why Mr Gordhan was sacked but local media are pointing to an alleged intelligence report which accuses him of working with foreigners to undermine Mr Zuma's administration.

Despite mulling over SACP ministers' resignations last week, the party said they would stay in place for the time being due to their "responsibility to serve a massive constituency and the country at large - now more than ever".

As the South African President Jacob Zuma ousted Pravin Gordhan and other top ministers, inviting economic uncertainties for the country, rand slumped four per cent against the U.S. dollar.

"I will be guided by my conscience if that actually happens and hopefully do the right thing, whatever that might be", he said, when asked whether he would support a motion of no confidence against Zuma in Parliament.

South Africa's two main opposition parties took aim at the president on Thursday, with one appealing to the highest court to order impeachment proceedings and the other announcing it will launch a vote of no confidence in Zuma.

Like this: