President Jacob Zuma’s handling of the finance ministers’ recall is a monumental shambles that is damaging the economy in SA

28 March 2017

Roughly twenty-four hours ago President Jacob Zuma announced he had instructed the Minister of Finance, Pravin Gordhan, together with the Deputy Minister of Finance, Mcebisi Jonas, to cancel their international investor roadshow and return immediately to South Africa.

The fact is that this bizarre instruction, cancelling the international investor roadshow without any explanation, is turning into a monumental shambles and is damaging the economy in South Africa.

The bizarre instruction, which was issued in the middle of an international investor roadshow designed to boost international investor confidence, must have severely compromised international investor confidence in the world's financial capitals, and has triggered speculation that the finance minister is about to be fired, which would be a disaster for South Africa.

However, since issuing the bizarre instruction without any explanation there has been absolute “radio silence”, which proves that President Jacob Zuma has learned nothing from his reckless and disastrous handling of “9/12” and that either he does not care or he does not understand the consequences of his decisions for the economy in South Africa.

If President Jacob Zuma issued the instruction to cancel the international investor roadshow for a reason other than a cabinet reshuffle, including the fact that the trip may not have been authorised, then why does he simply not tell South Africa?

Issued by David Maynier, DA Shadow Minister of Finance, 28 March 2017