How Gigaba has allegedly captured National Treasury: report

National Treasury has been captured by Finance Minister Malusi Gigaba, with staff purges, a parallel administration, and reckless projects, according to a City Press report.

The report cited senior Treasury employees who are accusing Gigaba of usurping the power of his director general.

Gigaba was appointed as finance minister on 30 March after former minister Pravin Gordhan and his deputy Mcebisi Jonas were axed.

This change led to the downgrade of SA’s sovereign credit ratings to sub-investment grade by Standard & Poor and Fitch.

One of the biggest concerns is Gigaba’s ties to the controversial Gupta family, who he admitted he has visited and celebrated Diwali with.

Gigaba said he has no relationship with the Gupta family, however, and they have no influence on the decisions he takes.


The City Press reported that Gigaba has captured Treasury, with senior officials stating he is steering it in a different direction to his predecessors.

The allegations from the officials and top bureaucrats include:

  • He is not executing a decision by director general Dondo Mogajane to conduct a forensic audit into Eskom’s coal contracts with the Gupta-linked Tegeta Exploration and Resources.
  • Gigaba has appointed close to 20 staff members, who are running a parallel administration in his office.
  • The minister does not consult deputy directors generals and technocrats at Treasury before making decisions.
  • Gigaba is favouring his chief of staff and advisers, some of whom have been linked to the Gupta family.
  • There have been delays in informing Water and Sanitation Minister Nomvula Mokonyane that her proposed deviation from a tender process for the R16-billion Mzimvubu water project has been declined.
  • Treasury’s core function – the budgeting process – is being moved to the presidency for the 2018/19 financial year’s budget.

Read: Gigaba denies reported plan to ‘raid’ PIC for R100 billion

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How Gigaba has allegedly captured National Treasury: report