National Treasury steps in as Citigroup cuts SAA’s R250m credit lifeline
The National Treasury is working with SAA to ensure the company has enough liquidity to continue operating after Citigroup canceled a short-term credit facility.
The National Treasury is working with SAA to ensure the company has enough liquidity to continue operating after Citigroup canceled a short-term credit facility.
South Africa’s President Jacob Zuma said markets overreacted to his decision to sack Nhlanhla Nene as finance minister in December.
Trevor Manuel asks the key questions about why Zuma fired Finance Minister Nhlanhla Nene and sweeps away Zuma’s belated justification that Nene was proposed for a position which, Manuel says, is “15%” of the responsibility of the one he held.
The biggest banks know better than to publicly take on South Africa’s ruling African National Congress. So when President Jacob Zuma sent markets plunging by replacing the finance minister with an obscure lawmaker, they rushed to lobby the ANC behind the scenes.
Leading company CEOs give Pravin Gordhan’s appointment as the new finance minister the thumbs up and pledge their support.
Less than two years since he left National Treasury, Pravin Gordhan delivered his first statement as Finance Minister following his reappointment.
The Rand had its biggest one-day advance since October 2008 after President Zuma reappointed Pravin Gordhan to oversee the National Treasury.
South Africa’s banking index soared 15 percent early on Monday after President Jacob Zuma appointed Pravin Gordhan as the new finance minister.
President Jacob Zuma reappointed Pravin Gordhan as Finance Minister, while David van Rooyen moves to Minister of Cooperative Governance and Traditional Affairs.
The statement issued by South African President Jacob Zuma this afternoon suggests he is fighting for his political life.