ANC reacts to Pravin Gordhan’s appointment

The African National Congress says it welcomes and supports the decision by President Jacob Zuma to appoint Pravin Gordhan as the Minister of Finance.

The Presidency confirmed on Sunday that former finance head, David van Rooyen, who had only been in the job since Thursday, would swap seats with Gordhan, a former minister of finance himself.

Gordhan was minister of co-operative governance.

The president’s decision to sack Nhlanhla Nene on Wednesday evening came as a shock, leading to a crash of the rand, while the market wiped away hundreds of billions in value.

“This decision has been occasioned by public concern stressing the need for experience and market assurance on the person who will champion the finance and fiscal policy of the country. President Zuma’s decision to appoint Comrade Gordhan therefore is an explicit demonstration of a responsive and accountable government,” the ANC said in a statement on Monday morning.

“The ANC further appreciates the explanation provided by President Zuma on the reasons behind the initial reshuffle of Comrade Nhlanhla Nene who is the country’s nominee to serve as head of the African Regional Centre of the New Development Bank/BRICS Bank. The decision underscores the importance of BRICS as a game changer in the world economy and the need for new trade patterns favoring developing economies,” it said.

“The ANC commends the public for vocal engagement of government on the appointment of the Minister of Finance. As an organisation, the ANC values public activism on matters of public interest.

“Public concern around the appointment of the Finance Minister demonstrated the value our nation has attached to past deployment by President Zuma’s administration and an involved, concerned and activist citizenry on the future of our economy,” the ruling party said.

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ANC reacts to Pravin Gordhan’s appointment