Gigaba claims he won’t dip hand in PIC cookie jar for ‘unscrupulous reasons’
South African Finance Minister Malusi Gigaba said he won’t ask Africa’s biggest money manager to provide funds to bail out state-owned companies.
South African Finance Minister Malusi Gigaba said he won’t ask Africa’s biggest money manager to provide funds to bail out state-owned companies.
Malusi Gigaba bemoaned the myriad of analysts doubting his credentials in his new position and in particular, casting aspersions on his vulnerability to state capture by the Zuma/Gupta factions.
In another excellent contribution, independent economist Azar Jammine applies his mind to the latest blow to SA’s economy – the departure of Treasury’s director-general Lungisa Fuzile.
Following last week’s events, the natural inference to draw is that Zuma’s new Cabinet was elected by himself in conjunction with interested parties of influence, especially the notorious Guptas.
Little is known about the new Deputy Finance Minister, Sfiso Buthelezi, except that for decades he has been a close confidante of SA’s deeply compromised President Jacob Zuma.
Azar Jammine thinks the incredibly far-reaching Cabinet reshuffle suggests that President Zuma has replaced all his opponents within the Cabinet with persons likely to reciprocate his patronage.
Pravin Gordhan is a big loss. And having a close Zuma loyalist sets any number of alarm bells ringing. But at least he is not Brian Molefe.