Amidst finance minister shuffles, SA Twitter still has a sense of humour

Most members of the ruling African National Congress held back from publicly criticizing Zuma, but there’s no doubt is position has been weakened further. Last week President Jacob Zuma fired Mr Nene and appointed David van Rooyen, a little-known backbencher with no experience of working in the national government.

Gordhan, who had served as finance minister in the previous government, will return to a portfolio that he had held proficiently during the fourth administration, Zuma said.

Mmusi Maimane, the leader of the main opposition Democratic Alliance party, said: “Zuma must stop playing Russian roulette with our economy”.

Even some supporters of the ANC, Nelson Mandela’s erstwhile liberation movement that has ruled since the end of apartheid in 1994, expressed dismay about Wednesday’s appointment of a Zuma loyalist to the crucial post.

Later, Zuma tried to bring about some calm by saying that Nene had been removed because he was in line for a top position at the new BRICS Bank.

“It may not be his death knell, but it’s certainly the turning of the tide”, a former senior anti-apartheid activist and ruling ANC legislator Ben Turok said. The markets responded well to a familiar face, with the country’s currency, the rand, recovering to 15.26 to $1 Monday.

Gordhan said the state of state-owned entities was one of the risks to the financial stability of the country. The rand lost 9% against the dollar, and government bonds slumped, forcing Zuma to make a U-turn.

“Although the results shown here were captured before the announcement of the replacing of Nhlanhla Nene, it is clear that fewer South Africans trust or show favourable sentiment towards President Jacob Zuma now than in the beginning of the year, or earlier in his presidency”, Ipsos said. The yield was 7,6 percent before Nene’s dismissal.

Duarte said Ramaphosa was part of behind-the-scene meetings that led to Zuma re-appointing Pravin Gordhan as finance minister.

The poll was done through 3 617 face-to-face interviews with randomly-selected adult South Africans.

The Johannesburg Security Exchange’s broad All-Share index was up 2 percent to 49,051 points by 0734 GMT.

Duarte said the party convinced Zuma to change his Cabinet decision following extensive consultations with businesspeople, civil society and organised labour.

In a Monday press conference, he reassure the country and nervous investors, promising “sound fiscal management”, Mail&Guardian reported.