Malusi Gigaba is the new finance minister

Former minister Malusi Gigaba. Picture: Gallo Images

Former minister Malusi Gigaba. Picture: Gallo Images

Gigaba’s wingman is former COO of the Makana Investment Corporation Sfiso Buthelezi.

Following the axing of Pravin Gordhan and Mcebisi Jonas, Malusi Gigaba and Sfiso Buthelezi are the new finance minister and deputy finance minister, respectively.

It has also been reported that another younger ANC cadre, Fikile Mbalula, is the new police minister. Both he and Gigaba once served as ANC Youth League presidents.

It was widely expected that former Eskom CEO Brian Molefe would take over as the head of Treasury, with few foreseeing the role being given to the now former head of home affairs.

Gigaba courted widespread controversy when implementing his visa regulations for families travelling with children, which the tourist industry complained was causing huge losses in revenue. The then tourism minister, Derek Hanekom, openly took a position against Gigaba. Hanekom, however, is also understood to have been axed, particularly since he also took a stand against President Jacob Zuma.

Gigaba is also no stranger to tabloid controversy, with a prominent romantic affair dominating headlines in 2015.

He also served as minister of the troubled portfolio of public enterprises.

Buthelezi is, however, not a household name. He was sworn in last year as an ANC MP. There was already speculation at the time that he would replace Jonas.

He joined the ANC at the age of 20 in 1981 and formed part of the Ingwavuma unit that was sent to experiment with setting up the first military bases for the ANC in the country. He was arrested and sent to Robben Island for eight years, until 1991.

Buthelezi was awarded his BCom degree while on Robben Island.

Between 1994 and 1999, he served as an adviser to Zuma when the latter was economic development MEC in KwaZulu-Natal.

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