Opinion: The fact of the matter is Gigaba lied, says Redi Tlhabi

Finance Minister Malusi Gigaba says that he knew the country would be downgraded, as S&P Global had told him in confidence.

Read: S&P reshuffles South Africa's credit rating to junk

He revealed that S&P Global took him into its confidence before announcing Monday night’s downgrade.

Gigaba held a press briefing on Tuesday admitting that he knew, while he had earlier downplayed fears around whether the ratings agencies would cut the country to junk.

Also read: Gigaba claims S&P forewarned him of downgrade in confidence

Presenter Redi Tlhabi says Gigaba blatantly lied to the South African public by feeding citizens false information.

The Afternoon Drive host says not only did Gigaba omit the truth, he went as far as to mislead the country.

It doesn't help telling us that you knew about it.

Redi Tlhabi, 702's Afternoon Drive presenter

The fact of the matter is you didn't just fail to take us into your confidence, you lied. You gave us the wrong information.

Redi Tlhabi, 702's Afternoon Drive presenter

Take a listen:

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
Gigaba claims S&P forewarned him of downgrade in confidence

Gigaba claims S&P forewarned him of downgrade in confidence

The new Finance Minister addressed the media and said he could not share the information prior to the announcement.

Gigaba knew about S&P downgrade ahead of time

Gigaba knew about S&P downgrade ahead of time

Why Malusi Gigaba lied to South Africa after Standard and Poor's forwarned him on Friday about the imminent downgrade.

How to cope with an onslaught of negative news

How to cope with an onslaught of negative news

A clinical psychologist's tips to help reduce anxiety and stress caused by bad news like Cabinet reshuffles and ratings downgrade.

Markets not badly affected by downgrade - analyst

Markets not badly affected by downgrade - analyst

Standard & Poor's downgraded South Africa's credit rating to junk status or double B plus but markets factored in the inevitable.

Moody's playing wait and see game says economist

Moody's playing wait and see game says economist

Economist Azar Jammine says if Zuma steps down today the scenario would dramatically change and may provide a new era of hope.

What being downgraded to junk status really means

What being downgraded to junk status really means

Wits Professor Patrick Bond and Financial Mail's Sikonathi Mantshantsha share their insights into the latest S&P downgrade.

S&P reshuffles South Africa's credit rating to junk

S&P reshuffles South Africa's credit rating to junk

The rating agency says the decision was taken on the back of political and institutional uncertainty.

Popular articles
LISTEN: Gerrie Nel on why he's persuing prosecution against Duduzane Zuma

LISTEN: Gerrie Nel on why he's persuing prosecution against Duduzane Zuma

AfriForum will prosecute Duduzane Zuma after NPA declined to do so in 2015 following a 2014 accident where a woman died.

How we invented the modern concept of sleep

How we invented the modern concept of sleep

Dr Bodhisattva Kar reveals how industrial capitalism influenced the world's current sleep patterns.

Hassen Adams (he brought Burger King and Dunkin’ Donuts to SA) talks money

Hassen Adams (he brought Burger King and Dunkin’ Donuts to SA) talks money

The Money Show’s Bruce Whitfield interviews Adams about his attitude to money (hopes and fears, successes and failures, etc.).

Kloof Street residents living in fear as crime multiplies

Kloof Street residents living in fear as crime multiplies

A Cape Town man was stabbed to death on Saturday while trying to assist two women who were being mugged on Kloof street.

‘I started my thriving business with R5000 (and made a profit in the 1st month)’

‘I started my thriving business with R5000 (and made a profit in the 1st month)’

After 3 years there are 3 Nic Harry stores (incl online) that sell 100 000 pairs of socks in over 20 countries around the world.