Zuma recalls Nene as finance minister

The Presidency has announced that Finance Minister Nhlanhla Nene has been ‘removed’ from his Cabinet post.

According to the statement, he will be deployed to "another strategic position".

702 and CapeTalk presenters Gugs Mhlungu and Sizwe Dhlomo spoke to an economist, Xhanti Payi, about the financial markets' reaction to the news.

Listen to the interview below:

If we wake up in the morning and traders don’t understand why this decision has been made, then the reaction will be negative.

Xhanti Payi, economist

Below is a chart that reflects the movement of the rand:


Investing.comForex Charts powered by Investing.com

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
Meet the woman striking the gender balance in the energy sector

Meet the woman striking the gender balance in the energy sector

Noxolo Kahlana believes there are many opportunities for women in the energy sector and encourages women to jump on the bandwagon.

Should heads of state make public their health status?

Should heads of state make public their health status?

Following speculations on the health of Nigerian President Buhari, Gugs and Sizwe ask why head of states hide when they are sick.

A steep price tag may not always constitute a good bed

A steep price tag may not always constitute a good bed

702's Gugs and Sizwe chat to UCT sleep researcher about how much time and energy should go into choosing the right bed.

Suicide is prevalent among business owners - insurance advisor

Suicide is prevalent among business owners - insurance advisor

Karina Namhing, Director at Nam Inc analyses the reason insurance companies are reporting high suicide rates in 2016.

Nene 'stops Myeni in her tracks', rejects SAA's Airbus deal

Nene 'stops Myeni in her tracks', rejects SAA's Airbus deal

Finance minister Nhanhla Nene has issued a stern warning to the Board of South African Airways over the controversial Airbus deal.

What are the expectations of Nene ahead of the mid-term budget address?

What are the expectations of Nene ahead of the mid-term budget address?

Where you won't miss a thing.

Popular articles
An expert guide on 'hotwifing' and 'cuckolding' in the bedroom

An expert guide on 'hotwifing' and 'cuckolding' in the bedroom

Clinical sexologist Dr Eve shares insights into sexual fetishes and how partners negotiate them in their bedroom and relationship.

[Watch] John Maytham shuts down victim shamer on air

[Watch] John Maytham shuts down victim shamer on air

A caller wanted to know what the alleged victim had done in order for Grace Mugabe to assault her.

WC Health Dept responds to Diphtheria outbreak

WC Health Dept responds to Diphtheria outbreak

Dr John Sonnenberg voiced his concern that communication in the Helderberg area following the outbreak could have happened sooner.

Cape officials to harvest 500 million litres of new water a day

Cape officials to harvest 500 million litres of new water a day

Mayor of Cape Town speaks to CapeTalk's Kieno Kammies about plans to provide more water amidst the ongoing drought.

Khoza sacking shows Zuma camp on warpath – analyst

Khoza sacking shows Zuma camp on warpath – analyst

Karima Brown says developments in Parliament over the past 24 hours shows the ANC caucus is imploding.

"I bumped into Anoj Singh and Eskom's Prish Govender at the Hyde Park Hotel"

"I bumped into Anoj Singh and Eskom's Prish Govender at the Hyde Park Hotel"

Sikhonathi Mantshantsha says surely as Anoj Singh is on suspension, he should not be talking to Eskom employees.

Journos walk out of Bathabile Dlamini's briefing after 2 hour wait

Journos walk out of Bathabile Dlamini's briefing after 2 hour wait

EWN's Gia Nicolaides says journalists walked out of the media briefing on social grants after waiting for hours for her to arrive.

Grace Mugabe used normal passport and can't enjoy diplomatic immunity

Grace Mugabe used normal passport and can't enjoy diplomatic immunity

Shadow Minister of International Relations says Mugabe's case should not be debated any further as she can't enjoy any privileges.