S&P undermining Zuma's constitutional powers - ANCWL

League says President consults the ANC over cabinet changes, not the ratings agency


28 January 2017

The African National Congress Women's League (ANCWL) has  read  with  utter dismay the  intimidating remarks attributed to Managing Director of Standard and Poor (S&P) Mr Konrad Reuss in Fin24 directed to South Africa, particularly the State President His Excellency Jacob Zuma. 

When speaking in a  panel during discussions on the outlook for Africa, at the Deloitte Africa 2017 Outlook Conference, Mr Reuss allegedly indicated that amongst other factors that will impact on SA institutional assessment by S&P will be Cabinet reshuffle. The utterances by Mr Reuss are a clear indication that S & P is not an apolitical institution and has interests on who has to be a Cabinet member. S & P as an institution undermines the Constitutional right of the State President to appoint his Cabinet and make changes when he deems necessary. The State President consults the ANC leadership on matters of constituting his cabinet not with S & P.

Furthermore, Mr Reuss said when going to ANC leadership elections later in the year, it has to do the right thing. Since its inception in 1912, the ANC has been doing the right thing in particular when electing it's leaders. The leadership of the ANC is elected by branch delegates in a duly constituted conference not by S & P.

The ANCWL is calling for S & P to clarify if the comments by Mr Reuss are his personal views or company views. In addition, the ANCWL appeals to Mr Reuss to desist from his downgrading scare tactics as form of dictating to the ANC on who must be in the leadership of the ANC and who has to be in Cabinet. 

Statement issued by Meokgo Matuba, Secretary General of the ANCWL, 28 January 2017