“I have decided to make changes to the National Executive in order to
improve efficiency and effectiveness.” – President Jacob Zuma.
In his statement, President Zuma said:
“I have decided to make changes to the National Executive in order to
improve efficiency and effectiveness. The changes bring some younger
MPs and women into the National Executive in order to benefit from their
energy, experience and expertise. I have directed the new Ministers and
Deputy Ministers to work tirelessly with their colleagues to bring
about radical socio-economic transformation and to ensure that the
promise of a better life for the poor and the working class becomes a
reality.”
He also moved sports minister Fikile Mbalula to police, and added a few new entries to the Cabinet.
Newly appointed Finance Minister, Malusi Gigaba will have the tough
task of reassuring credit rating agencies, which will be very unnerved
by President Zuma’s axing of Mr Gordhan and Mr Jonas.
The new finance minister has extensive experience in the national
executive, but has no experience in finance and is unlikely to be well
received by the markets.
Mr Gigaba is the former Home Affairs Minister, and had a stint as Public Enterprises Minister.
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