The United Democratic Movement has noted President Zuma’s cabinet reshuffle.
The appointment of Malusi Gigaba as the new minister of finance is disconcerting, because of his clear association with the Gupta family. President Zuma is strengthening his hold on cabinet with the appointment of Sfiso Buthelezi as Gigaba’s deputy and it won’t be surprising if people start dismissing these two as indunas from the palace whose main objective would be to facilitate the further looting of resources.
The fact that the Rand tanked yesterday evening, even before President Zuma made any announcement, is a sign that South Africa is in for a rough ride in the next few days up until it is clear what the new minister of finance plans to do.
The “sideways promotion” of Faith Muthambi, Nkosinathi Nhleko and Bathabile Dlamini is disappointing, because they have failed in their previous portfolios. Instead of punishing them for their failures, they have been rewarded for showing loyalty to the President.
Politically speaking, many of the ministers, who have been removed, still hold position within the African National Congress and, given the noise made by the Communist Party today, it would be interesting to see how the Communist Party ministers will react.