{"id":201974,"date":"2017-10-01T07:46:32","date_gmt":"2017-10-01T05:46:32","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=201974"},"modified":"2017-10-01T07:46:32","modified_gmt":"2017-10-01T05:46:32","slug":"how-gigaba-has-allegedly-captured-national-treasury-report","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/finance\/201974\/how-gigaba-has-allegedly-captured-national-treasury-report\/","title":{"rendered":"How Gigaba has allegedly captured National Treasury: report"},"content":{"rendered":"

National Treasury has been captured by Finance Minister Malusi Gigaba, with staff purges, a parallel administration, and reckless projects, according\u00a0to a City Press report<\/strong><\/a>.<\/p>\n

The report cited senior Treasury employees who are accusing Gigaba of usurping the power of his director general.<\/p>\n

Gigaba was appointed as finance minister on 30 March after former minister Pravin Gordhan and his deputy Mcebisi Jonas were axed.<\/p>\n

This change led to the\u00a0downgrade of SA\u2019s sovereign credit ratings<\/strong><\/a>\u00a0to sub-investment grade by Standard & Poor and Fitch.<\/p>\n

One of the biggest concerns is Gigaba\u2019s ties to the controversial Gupta family,\u00a0who he admitted<\/strong><\/a>\u00a0he has visited and celebrated Diwali with.<\/p>\n

Gigaba said he has no relationship with the Gupta family, however, and they have no influence on the decisions he takes.<\/p>\n

Captured<\/h3>\n

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

The allegations from the officials and top bureaucrats include:<\/p>\n