South African President Jacob Zuma reshuffled his cabinet a second time in five days on Sunday.
The President reappointed Pravin Gordhan to the position after last week's sacking of Nhlanhla Nene and his replacement with unknown lawmaker David van Rooyen on Wednesday.
Zuma gave Gordhan the job late on Sunday, in a dramatic U-turn that gave Africa's most industrialised economy its third finance minister in a week.
It's not Gordhan's first spell in the position having served as South Africa's finance minister from 2009 until last year.
Gordhan, was due to address the media at 1pm local time (1100 GMT), a statement from the Treasury said.
Already, analysts and politicians are reacting to this new U-turn, saying the president was caught off guard by market reaction, as well as intense reaction from South Africans from all sectors, including from within his own party.
But the president said in a statement late on Sunday that his response was a democratic move that emphasized the importance of listening to the people and to respond to their views.
South Africa is gearing up for local elections next year where the ruling African National Congress (ANC), is expected to face stiff competition from the opposition Democratic Alliance in urban areas, including the economic hub of Johannesburg. The countryside remains an ANC stronghold.
No comments:
Post a Comment