WATCH: Gigaba was ‘shocked’ to be named finance minister

Speaking at his first press conference in Pretoria, newly sworn in Finance Minister Malusi Gigaba responded to rumours about how he was picked for the role by declaring that he had not been part of any discussions in the lead-up to the announcement.

He joked that the media appeared to have known more about the matter than he did.

Gigaba said the “challenges” of the past few weeks and days had led to a lot of speculation in the media and had taken many people by surprise, none more so than him.

He was referring to the fact that his predecessor and his deputy had been fired by President Jacob Zuma, apparently on the basis of an unsubstantiated report that they were working with people in the US and UK on a plot to overthrow Zuma – something Deputy President Cyril Ramaphosa has come out to declare was not a credible reason and was “unacceptable”.

In the months leading up to Friday’s cabinet reshuffle, it was widely accepted that former Eskom CEO Brian Molefe had been sworn in as an MP for the primary goal of making him the finance minister.

The expected rise of Sifiso Buthelezi to the deputy finance minister position has, however, been awaited as he was considered Zuma’s preferred man for the position for more than a year.

Gigaba said: “You guys in the media have been speculating about this [who would replace Pravin Gordhan] … in actual fact, I was much more shocked when I got the information, the call, that I am to be minister of finance on Thursday night … than you probably were. You probably knew who was going to be the replacement.

“I was shocked both at the decision as well as the fact that I was being put on to this hot seat. So we all have been shocked.”

He claimed not to know the reasons for the decision, but he was more concerned about doing his duty and to “focus on the tasks I have been given”.

He said he was used to being moved by presidents, as it had happened to him a number of times before.

Watch the video below, courtesy of SABC.