Surprise! JZ appoints new Finance Minister

[Dave A]

In a surprise move that has caught everyone off guard, Jacob Zuma has removed Nhlanhla Nene as finance minister.

Unsurprisingly, the Rand tanked on the news.

I'm not buying the excuse that has been trotted out - Finance is a critical portfolio and you don't mess with it lightly.
Anyone got a clue what the real thinking behind the move was?

[Dave A]

Looking around - Nene's shock removal pure political play - economists.

Pretty much where my thinking was going.

I'm afraid this President is going to go down in history as an absolute disaster for SA.

#JZmustFall

[sakkie]

I think Nene was to "tight fisted" to JZ's liking. He was replaced by a puppet that will not oppose the Nuclear Power deal.

I would hate to see what the fuel price is going to do in January, despite oil being at its lowest price in years.

[IanF]

Is there anyone in the ANC who will stand up to Zuma and have him recalled like they did to Mbeki?
We are on the road to becoming another African mess.
#Zumamustfall

[Desert Man]

The downhill momentum is rapidly accelerating - somehow some drastic action is needed soon to stop this power monger who's currently destroying SA - we need a real leader to stand up and stop the rot - not sure where he/she will come from but doubt from within the ranks of the ANC.

[Electrode]

My immediate concern would be the new investments towards stabilizing our Country's energy supply. There are rumours and conjecture that hint towards a more aggressive maintenance timetable to stabilize our existing infrastructure. This include streamlining expenses and perhaps a heavier hand was needed to help oversee the financial process. I personally believe some promises were made by government and conditions were laid out by investors to protect their investment. Or it could be something else entirely.

[IanF]

One rumour I heard was he was p**sed off about the new plane being stopped. We will have to wait and see what the new guy does to find out the reasons.

[Electrode]

One rumour I heard was he was p**sed off about the new plane being stopped. We will have to wait and see what the new guy does to find out the reasons.

There are numerous rumours at this point and very little information. The lack of transparency caused many to speculate. Corruption being one major concern and mismanagement being the other. South Africa cannot afford more mistakes, this is abundantly clear. As a country we are heading head first towards a financial disaster.

I am however doubtful that we will know the real situation.

[Marq]

My guess (Ok - its more than a guess its a serious hope)........he is battling a palace coup.

[cherryman]

So RW Johnson said we had two years what six months ago? He was wrong, we had six months. Or maybe we have another six months. Maybe. But I have my doubts.

PS I'm new here so hi everybody.

[Electrode]

Opinion: Zuma has committed treason

In the latest episode of "Zuma Screws the Country", Finance Minister Nhlanhla Nene was removed from his position to be redeployed to some other role to be revealed at a later date. This is an act of willful abuse towards a country and an economy in desperate need of fiscal leadership – or just about any leadership really. The Daily Maverick has described this as an “act of sabotage”. I’d go further and call it an “act of treason” (if we’re working with the definition that says treason is “a violation of the allegiance that a person owes his country”).

Nene was a pretty big cog that was still functioning in a very broken wheel. Here are some of the good things Nene has done:

It’s clear why Zuma doesn’t like the guy. He was doing his best to cut the direct line of rands to Zuma's pockets. Realistically, Nene didn’t stand a chance. And now, as my friend Rico Schacherl pointed out, he’ll most probably become the ambassador to Chad.

In his place,we have David van Rooyen, a man who certainly hasn’t held any senior financial governmental positions and whom nobody’s really heard of. Except COPE deputy president Mbhazima Shilowa. He knows Van Rooyen. This is what he had to say about him on Twitter last night:

Is this a blatant opinion? Or, is this a blatant truth?

[Dave A]

From that same story -

Roll on 2019, but good luck finding a successor who will be able to turn around the soggy mess of a country they are left with.

Frankly, I don't think the country can afford to wait that long.

#ZumaMustFallNow

PS I'm new here so hi everybody.

Welcome to TFSA, cherryman

[Blurock]

So did you not believe him when he told you that the ANC (and Zoom) comes first? So screw the Beloved Country! As long as Zuma gets what he wants.

(and note that the spooks will be looking at this)

#ZumaMustFallNow

[Electrode]

I personally don't like politics, and if we are honest it is not benefiting anyone anymore. South Africa was, and can still be a strong independent country. Unfortunately reckless spending and corruption, along with reckless borrowing of funds will burden us and many future generations for years to come.

Unfortunately it is our children that will be tasked to set things right.

The duty of youth is to challenge corruption.
Kurt Cobain

[Dave A]

Came across this meme today while wandering through #ZumaMustFall on Twitter