Senior ministers say that President Jacob Zuma’s axing of Nhlanhla Nene finance minister\u00a0 is not a popular one, which is fueling discontent within the ruling party, the ANC.<\/p>\n
This is according to a report in the Sunday Times, and follows the shock appointment of relatively unknown, David van Rooyen as the new minister of finance, last week.<\/p>\n
Explaining his decision in a statement, Zuma said the \u201curgency of the changes in the leadership of the National Treasury\u201d was because nominations needed to be sent to Shanghai in terms of the head of the African Regional Centre of the New Development Bank\/BRICS Bank, which will be based in Johanesburg\u201d.<\/p>\n
Zuma said that Nene had been nominated for the post.<\/p>\n
\u201cMr Nene is our candidate for this position. We are fully backing his candidature, knowing full well that he will excel and make the nation proud in his next assignment.<\/p>\n
Notably, Zuma said that the axing of Nene has not signalled a change in government\u2019s stance on the fiscal policy, adding that the new minister will strengthen SA\u2019s path and will\u00a0continue to support all efforts aimed at improving South Africans\u2019 lives.<\/p>\n
A senior minister told the Sunday Times that Zuma’s decision came as a shock. “He (Zuma) is the only one who knows why he took the decision. Nobody knew that this was going to happen.<\/p>\n
“It is an unpopular decision, and many in the ANC are unhappy, but we will rise from this. The decision is costing us because, because it has affected the markets and the rand.<\/p>\n
ANC stalwart and former Minister of Public Enterprises in the Cabinet of South Africa, Barbara Hogan called for Zuma to be recalled.<\/p>\n
Hogan said on Friday: “ANC members must make their voices heard. Not just the NEC members, but ordinary members too. They must not be intimidated by Gwede Mantashe. They must bombard Luthuli House with the message that Zuma must go.<\/p>\n
“Luthuli House is not listening to the people. We do not have the power to recall the president. Only the ANC has the power to recall. This man is creating economic sabotage.”<\/p>\n
The ANC published a statement following Nene’s sacking on Wednesday, saying that it ‘notes and respects’ the decision of President Jacob Zuma.<\/p>\n
Chairman of the ANC’s economic transformation sub-committee, Enoch Godongwana, said that he was “disturbed” by the movement in the markets, and the capitulation of the rand, following the announcement.<\/p>\n
A senior minister in the Treasury questioned the timing of the new appointment. “To do this now is crazy. It is causing hypertension.<\/p>\n
“We will be downgraded to junk status, there is no question about that.”<\/p>\n
The full article can be found in the Sunday Times, November 13, 2015 edition.<\/p>\n
Zuma speaks out on why he axed Nene<\/a><\/strong><\/p>\n Watch: First address from South Africa\u2019s new finance minister<\/a><\/strong><\/p>\n Why a new finance minister changes everything for SA<\/a><\/strong><\/p>\n