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Zuma's removal of finance minister shocks nation

Xinhua, December 10, 2015 Adjust font size:

South African President Jacob Zuma has sacked Finance Minister Nhlanhla Nene in a move that shocked the whole nation.

Zuma made the announcement late Wednesday, saying he had decided to remove Nene ahead of his deployment to another strategic position.

Zuma appointed a Member of Parliament, David Van Rooyen, as the new Minister of Finance.

Largely unknown Van Rooyen serves as a Whip of the Standing Committee on Finance and as Whip of the Economic Transformation Cluster.

He is a former Executive Mayor of Merafong Municipality and a former North West provincial chairperson of the South African Local Government Association.

"Mr Nene has done well since his appointment as Minister of Finance during a difficult economic climate," Zuma said.

Nene enjoys a lot of respect in the sector locally and abroad, having also served as a Deputy Minister of Finance previously, Zuma said.

The new deployment of Nene will be announced in due course, Zuma said.

"I wish Mr Van Rooyen all the best in this new appointment," Zuma said.

The move however drew criticism from the opposition Democratic Alliance (DA), which said firing Nene was reckless and irrational, as it would further damage the country's economy.

The firing of Nene has already had profoundly negative effects on the rand which has plummeted since news of the announcement broke, the DA said.

"This is sure to make the plight of the unemployed in South Africa even more difficult," the party said.

The appointment of Van Rooyen as Finance Minister provides no assurance that SA's economy is in safe hands, said the DA.

"At this time, our country requires strong economic leadership. Tonight's decision is the complete opposite," the party said.

It is also widely believed Nene was fired because of his fiscal prudence and for political reasons.

This includes his reluctance to fund the one-trillion-rand (67.1-billion-dollar) nuclear programme, his inquiry into the squandering of funds at the South African Broadcasting Corportation (SABC) and his ruling against South African Airways (SAA) in negotiations with Airbus. Enditem