Finance Minister Malusi Gigaba has the world on his shoulders.
Earlier this week he had to put out fires after Sunday Times published an opinion piece written by his advisor Professor Chris Malikane.
In the article Malikane proposes a new economic plan that includes the “expropriation of white monopoly capital establishments such as banks, insurance companies, mines and other monopoly industries to industrialise the economy”.
Gigaba has since distanced himself from the piece.
On Wednesday, Gigaba said he expects to appoint a new director-general (DG) of Treasury by the end of May, which he hopes will bring further assurances of stability within the sector.
The minister is currently attending World Bank and International Monetary Fund meetings in the United States to assure investors of South Africa’s unchanged economic path.
He will also meet rating agency Moody’s.
The Money Show’s Bruce Whitfield interviewed Standard Bank Chief Economist Goolam Ballim.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
The internal crisis in South Africa has come at a time of an incredibly benign external environment.— Goolam Ballim, Standard Bank
Finance Minister Gigaba’s endeavours will only have limited effect, because the elephant in the room is the President.— Goolam Ballim, Standard Bank
Minister Gigaba is a subtext in the play.— Goolam Ballim, Standard Bank
The Finance Minister is going to have to show that he can assemble people with gravitas.— Goolam Ballim, Standard Bank
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
The Money Show’s Bruce Whitfield interviews Aurik Business Accelerator’s Pavlo Phitidis.
The Money Show’s Bruce Whitfield interviews Dracore Data Services CEO Chantelle Fraser.
The Money Show’s Bruce Whitfield interviews Galileo Capital Personal Financial Advisor Warren Ingram.
Bruce Whitfield interviews Finance Minister Malusi Gigaba's advisor Chris Malikane and Business Leadership SA's Bonang Mohale.
He had been seen as crucial to maintaining stability at the Treasury after Gigaba replaced Gordhan as minister.
Arabile Gumede interviews KPMG Senior Economist Christie Viljoen.
The Money Show’s Bruce Whitfield interviews Stuff magazine’s Toby Shapshak.
Nkosinathi Nkomo came up with a system that could turn grey water into usable water amidst the Cape Town water crisis.
The Money Show’s Bruce Whitfield interviews the former CEO of Africa’s largest retailer by far.
A policing expert explains that the airport shooting may be linked to the shooting at a Stellenbosch nightclub this past weekend.
Independent Marketing Consultant in the Technology Space, Andrew Fraser says this looks like a leak and not a hack.
The incident happened in the early hours of Wednesday morning.