The ANC said it was satisifed with the reasons given for reappointment of Pravin Gordhan as the Minister of Finance.
This followed the sacking of Nhlanhla Nene last week and the appointment of David van Rooyen as his successor.
But, as the markets showed their disdain, coupled by an unprecedented public outcry, the President relented and recalled Gordhan to the post over the weekend.
ANC spokesperson, Jessie Duarte, told a media briefing Tuesday that the party's National Officials met various stakeholders over the past few days, including alliance partners, to discuss the cabinet shuffle and the fall-out.
"The National Officials briefed the meeting of the interactions they had led with various stakeholders, including the Alliance Partners, business, organised labour and civil society formations on the appointment of the Minister of Finance, following the reshuffle and expected redeployment of Nhlanhla Nene," Duarte said, reading from a prepared statement.
"These engagements were precipitated by the express public concern which followed the redeployment of Nene and the appointment of David van Rooyen as Finance Minister. As has now become common knowledge the President of the Republic has reconsidered his decision and appointed a seasoned and experienced leader, Pravin Gordhan, as Minister of Finance."
"The President's willingness to change an earlier deployment in the face of our sluggish economic climate and representations from roleplayers demonstrated bold leadership, bringing certainty and assurance in the Finance portfolio. The thorough engagement that was held with various stakeholders and the ability of the leadership to review their position in the face of legitimate concerns of our people, are the hallmark of a listening, responsive and accountable organisation," Duarte added.
"Such open, frank and productive engagement has been characteristic of the ANC and the government under the leadership of Zuma. The policy of the ANC is one of ensuring sound fiscal management and we will adhere to our position of good governance being non-negotiable. Deployees in government and the State Owned Enterprises must understand the sacrosanct nature of stringent management of resources."
"The ANC supports Pravin Gordhan's view that the decisions taken by Nene during his tenure as Minister of Finance in relation to State Owned Enterprises and other expenditure remain in force. We reaffirm our commitment to redoubling our efforts to enhance transparency, fight corruption and strengthen the resilience of our economy. Given the prevailing economic climate we appreciate the sentiment expressed by the Minister of Finance that there will be no reduction of spending on pro-poor programmes. We further accept that there will be no additional expenditure unless there is additional revenue that is sourced," said Duarte.
"The Extended National Working Committee has accepted the report of the National Officials. The NWC has further committed itself to work even harder towards the realisation of a social compact with all social partners and spare no effort in building and growing an inclusive economy that creates jobs for our people."
