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 Daniel Silke, Political Economy Analyst at Political Futures Consultancy.
Interested in attending a free, two-year course in computer programming? Bruce Whitfield interviews the cofounder of WeThinkCode_.
The Money Show’s Bruce Whitfield interviews Futuregrowth Asset Management Chief Investment Officer Andrew Canter.
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.
Bruce Whitfield interviews Gordon Institute of Business Science Dean (and marketing expert) Professor Nicola Kleyn.
Fedhasa's CEO is encouraging South Africans to take a look at the specials that are currently out there and make their bookings.
The National Prosecuting Authority (NPA) will appeal a High Court order that its head Shaun Abrahams leave office.
Journalist and author Jaques Pauw says he doesn't understand why he being investigated and summoned to appear before police.
Metrorail regional manager, Richard Walker says criminals are making it hard for them to operate in the area.
The company lost around R100 billion leaving the JSE reeling in one of the biggest private sector business scandals.
Entrepreneur Max Lichaba built his own empire and is the CEO of Lichaba Creations and several other businesses. This is his story.