Former Home Affairs Minister, Malusi Gigaba, is the country’s new Finance Minister.
He replaces Pravin Gordhan in a much-anticipated cabinet reshuffle announced Thursday night by President Jacob Zuma.
Gordhan’s deputy, Mcebisi Jonas, also got the chop and he is replaced by Sifiso Buthulezi, who has long-running track record in government, state owned enterprises and was also the first CEO of the National Gambling Board.
Gordhan’s axing ends a week of intense speculation after President Zuma instructed that he cut short his international investor roadshow to the UK and United States.
He returned to South Africa on Tuesday, in time to attend the funeral of ANC stalwart Ahmed Kathrada, and put in an appearance in a high-stakes court case against the Gupta family in the High Court.
Earlier on Thursday, the South African Communist Party took the surprising step of spilling the beans on a meeting with President Zuma in which he announced his plans.
The SACP’s second deputy president Solly Mapaila said they were outraged at the decision to axe Gordhan.
Political parties have also reacted with the DA tabling another motion of no confidence in President Zuma.
The EFF, meanwhile, has turned to the Constitutional Court for an order directing Parliament to take action against President Zuma for violating his oath of office.
The news of the cabinet reshuffle also hit the Rand, with the currency at R13.40 to the dollar Thursday night.
Afriforum described the sacking of Pravin Gordhan as a “disgrace”.
CEO, Kallie Kriel said that “the ANC’s infighting has degenerated to such an extent that the Zuma camp is now even prepared to sacrifice the country’s economy and the value of the rand simply to wage internal ANC battles.”
