EDITOR – Jacob Zuma’s dismissal of Finance Minister, Nhlanhla Nene, can only be described as absurd during the current challenging global economic times. Even more bizarre is that the president offered no substantial reason for this move.
It is evident that this is a Luthuli House decision based on power and in particular power surrounding the president. Again, it is nothing more than the president surrounding himself with ‘yes men’ or ‘all the president’s men’. It is abundantly clear that the president has no understanding of economics and the impact of his rash decisions will impact most on the poorest of the poor.
The immediate reaction of South Africa’s Rand following the announcement is a fine example. But then this is a president who can’t differentiate between a thousand and a billion or a million when publicly speaking on finance.
Zuma’s new appointee, David van Rooyen, is mostly unknown in the financial market with most of his experience obtained in the field of municipal finance.
The astounding developments of the past few days will no doubt have a detrimental effect, not only on our country but also on investor confidence in KZN – this at a time when we least need it.
Francois Rodgers – MPL
DA KZN Spokesperson on Finance
*please note this letter was received on Thursday, 10 December.
