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Following on the shock summary appointment by President Zuma of Mr David van Rooyen, MP, to the position of Minister of Finance last Wednesday, 9th December, the subsequent collapse of the rand against major foreign currencies and damage caused to the economy as well as the massive public outcry, we now see the President reappointing former Finance Minister, Pravin Gordhan to this most important portfolio.

IFP spokesperson on Finance, Ms Sibongile Nkomo, MP, said, “President Zuma’s reappointment of Minister Gordhan after Minister van Rooyen had served only four days in the finance portfolio clearly evinces a President who has no strategy at all when it comes to executive appointments. Although Minister Gordhan’s appointment to the Finance Department is welcomed, we would have preferred the President to reappoint Minister Nene to the position and leave Minister Gordhan in Co-operative Governance and Traditional Affairs,”

“President Zuma’s rash and ill-thought decision making on the appointment of Minister David van Rooyen as Minister of Finance has already cost the country dearly in terms of economic losses suffered which will take months to stabilize and correct. We hope that the President will in the future carefully think through all possible ramifications before taking such decisions again as he is wantonly gambling with the livelihoods and economic security of all South Africans and the very future success or demise of our country.”