Replacing Jonas with disgraced Molefe a blow to SA’s integrity

Trying to influence President Jacob Zuma’s decisions in the composition of his Cabinet is, we feel, much akin to steering a battleship through porridge.

But reports that discredited former Eskom CEO Brian Molefe, due to be sworn in as a member of parliament on Wednesday, is slated for a major role in the finance ministry, raises two points of concern.

Should the president decide to replace Finance Minister Pravin Gordhan in the wake of his reading of the budget in the House of Assembly on Wednesday, the result is almost certain to be another mini-meltdown in our credibility abroad, and the resultant effect on the South African currency as an immediate effect and our embattled economy over a longer term.

Zuma has tried this once before, dumping Nhlanhla Nene from finance and bringing in the little known Des van Rooyen. The markets were aghast. The rand imploded losing as much as 5.4% against the dollar in 24 hours and Zuma had to backtrack for one of the few times in his tenure, hastily recalling Gordhan to the seat he had formerly held.

Amid the rumours of his departure, Gordhan publicly admitted that he was “not indispensable” and owned up to being just a humble civil servant.

But the second shift Zuma might trigger could be the much touted elevation of Molefe to Gordhan’s deputy. This would be a slap in the face for present incumbent Mcebisi Jonas, and a major blow to integrity.

Jonas has steadfastly stuck to his version of refusing to take a massive R600 million payout offered in a meeting with Ajay Gupta to take over as minister from Gordhan and vehemently denied claims he lied about a meeting between them.

Jonas has shown political courage and emerged as one of the few beacons in the murk from the State of Capture report. Jonas surely deserves better.

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