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BREAKING: Gordhan Out. Home Affairs Minister Gigaba New Finance Minister

The Rand plummeted Thursday evening as rumours raged on social media that South Africa’s Finance Minister Pravin Gordhan had been ousted, and replaced by Home Affairs Minister Malusi Gigaba. Update: the Cabinet Reshuffle rumours have been confirmed in a statement after midnight Thursday evening. This follows a week of intense speculation after President Jacob Zuma recalled Gordhan from an […]

31-03-17 00:59

The Rand plummeted Thursday evening as rumours raged on social media that South Africa’s Finance Minister Pravin Gordhan had been ousted, and replaced by Home Affairs Minister Malusi Gigaba. Update: the Cabinet Reshuffle rumours have been confirmed in a statement after midnight Thursday evening.

This follows a week of intense speculation after President Jacob Zuma recalled Gordhan from an overseas investment trip, allegedly because he had a report revealing Gordhan was going to undermine his leadership and detrimentally impact the SA economy.

Many speculated that the President was seeking a Cabinet Reshuffle and was gunning for Gordhan and his Deputy, Mcebisi Jonas. Critics accused Zuma of answering to the wishes of the Gupta Family who have had issues with Gordhan.

The South African Communist Party confirmed Thursday that it had been briefed on the planned reshuffle, and that it – the SACP – had rejected the proposal and did not wish for Gordhan and Jonas to be replaced.

This evening Zuma reportedly called a meeting of the ANC Top Six and fired Gordhan, replacing him with Home Affairs Minister Malusi Gigaba, and replacing Jonas with Sfiso Buthelezi.

The reason for the rush to complete the reshuffle late on Thursday night may be revealed in this retweet from EFF leader Julius Malema: “The new Finance Minister has an urgent task of approving the Gupta acquisition of Habib Bank. Their acquisition deadline is tomorrow.”

South Africans are being called to gather in Church Square, Pretoria, at 10am.

UPDATE: View the official list of new Ministers and Deputy Ministers in South Africa and read President Zuma’s remarks on the Cabinet Reshuffle

DA Responds – Calls for Parliament to Fire Zuma

https://twitter.com/mathewlove36/status/847557597511245824

https://twitter.com/suhailamather/status/847569207978078208

https://twitter.com/MbalulaFikile/status/847549820747354112

https://twitter.com/MbalulaFikile/status/847551913935515649

https://twitter.com/SimonPGrindrod/status/847569425725259776