Last week, Zuma shocked the markets and nation when he announced that he had fired Nhlanhla Nene as finance minister and replaced him with the relatively unknown David van Rooyen. “As a democratic government, we emphasize the importance of listening to the people and to respond to their views”, Zuma said in a statement.
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Zuma’s unexpected announcement sent the rand surging almost 5 percent Sunday evening, with added gains Monday, strengthening another 4 percent to trade at 15.1561 rand to the dollar, BusinessDayLive reported.
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He has so much personal things going on. “I thought, I definitely have a hard world title race against this guy”. De Souza joins Carissa Moore (HAW ) as 2015 WSL Champion; Moore won her title at Maui earlier this month.
Montalto expressed surprise at the ANC’s attempt to put forward Van Rooyen’s abrupt appointment as a “deliberate and well thought out choice” and that of Nene for Brics Development Bank candidate.
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Ashutosh also questioned BJP’s silence on these allegations and described Jaitley as a “master of half-truth and handsome lies”. DDCA’s infrastructure gone down very drastically.
“This is especially important as local government elections are about five months away, and the ANC is facing stiff competition from the opposition – especially in the major metropolitan areas where voters are more exposed to different opinions and have more access to a variety of news media”. This allegedly brought the anger of the airline’s chairwoman, Dudu Myeni, known as a close ally of Zuma.
Pravin Gordhan worked as the Commissioner of the South African Revenue Service from 1999 to 2009.
On Monday, BusinessDay newspaper reported that Cabinet approved a deal for the proposed nuclear power program on the day Nene was sacked. The ANC continues to neglect the needs of South Africa as it hurries to defend one man: Jacob Zuma.
Van Rooyen’s appointment on Wednesday triggered the rand to plummet to record levels against the dollar and fuelled predictions that the country’s bonds would be cut to junk status. While the New York Times mentioned that the reshuffle was related to a clash between Dudu Myeni, the chairwoman of the troubled aircraft carrier South African Airways, who pushed for a purchase of 10 aircraft, and Nene, who opposed the move.
Seeking to reassure markets, Gordhan told a televised news conference on Monday: “We take account of the concerns of the rating agencies and investors and we shall endeavor to protect the investment grade rating of South Africa”.
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Zuma acknowledged that he had given in to the condemnation of investors and political opponents, who called the series of changes in the finance ministry indicative of his reckless management of an economy in turmoil.
