The nation faces much confusion and uncertainty after President Jacob Zuma’s unexpected cabinet reshuffle. Amongst the ministers dismissed, the biggest disturbance was the dismissal of former Finance Minister Pravin Gordhan, who was summoned as a matter of urgency from a trip abroad. Many have questioned President Zuma’s decision of dramatically ‘sacking’ Gordhan but it was Deputy President Cyril Ramaphosa, who emphasised his disappointment at not being consulted in the decision-making process. After facing much criticism from the nation, newly-appointed Finance Minister Malusi Gigaba stated that he is capable of this position.
Gordhan has emphasised the need to maintain respect for the ANC, despite what has happened. DA leader Mmusi Maimane has mirrored this philosophy by mentioning in a media briefing that the country will resort to peaceful protest action.
The question that however stands is how the rand is affected by this reshuffle. According to EWN “The local currency lost around 6% on Friday after Finance Minister Pravin Gordhan was fired.”
EWN has also mentioned that “The rand traded at around R12.30 to the dollar last Monday before Gordhan was told to return home during an international investor road show. As the week progressed and Zuma then reshuffled his Cabinet, the rand weakened to around R13.40.”
The negative impact of the South African currency has caused the public to resort to hostility towards the ANC, and in particular, President Jacob Zuma.