'Gigaba will have limited effect; the elephant in the room is the President'

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

Click here (then“like” the page) to follow Bruce on Facebook.

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.

Subscribe to our Business Wrap Newsletter

Article brought to us by Old Mutual.


This article first appeared on 702 : 'Gigaba will have limited effect; the elephant in the room is the President'


Recommended

by NEWSROOM AI
Read More
How to get rich by investing in smoking hot US and Canadian dagga shares

How to get rich by investing in smoking hot US and Canadian dagga shares

Returns of 500% are not unheard of. Is this another crypto-like bubble? Not in the least, says Financial Advisor Warren Ingram.

Hits from the bong (it’s legal!)… then off to work I go?

Hits from the bong (it’s legal!)… then off to work I go?

The consequences of consuming dagga at home and showing up at the office high. Bruce Whitfield interviews a labour lawyer.

Solutionist Thinking: In Conversation with FirstRand's founders

Solutionist Thinking: In Conversation with FirstRand's founders

In the bonus episode of Solutionist Thinking with RMB, Bruce Whitfield speaks the founders of FirstRand, GT Ferreira, Laurie Dippenaar and Paul Harris.

'Land restitution failed because Government is the biggest owner of land'

'Land restitution failed because Government is the biggest owner of land'

Bruce Whitfield interviews Finance Minister Malusi Gigaba's advisor Chris Malikane and Business Leadership SA's Bonang Mohale.

Treasury DG Lungisa Fuzile explains (on The Money Show) why he quit

Treasury DG Lungisa Fuzile explains (on The Money Show) why he quit

He had been seen as crucial to maintaining stability at the Treasury after Gigaba replaced Gordhan as minister.

‘Treasury [the new team] doesn’t acknowledge that we have a problem’

‘Treasury [the new team] doesn’t acknowledge that we have a problem’

Arabile Gumede interviews KPMG Senior Economist Christie Viljoen.

Popular articles
We call it Heritage Day so it's more inclusive - Coconut Kelz (Lesego Thlabi)

We call it Heritage Day so it's more inclusive - Coconut Kelz (Lesego Thlabi)

In this segment of the Current Affairs with Coconut Kelz, satirical comedian Lesego Thlabi channels Kelz to chat about Heritage Day.

'My hubby is 75 and we still do it' - stories about sex on the other side of 50

'My hubby is 75 and we still do it' - stories about sex on the other side of 50

Is biology putting the brakes on your sexuality? Callers share their experiences of sex and growing older.

'Some weed plants with high levels of chemicals have been linked to psychosis'

'Some weed plants with high levels of chemicals have been linked to psychosis'

Naked Scientist, Chris Smith shares his insights on some of the risks associated with smoking marijuana.

[Watch] Dad breaks down when reunited with car sold to pay wife’s bills

[Watch] Dad breaks down when reunited with car sold to pay wife’s bills

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone viral'.

Charity loses R39k event deposit after previous Ritz Hotel management goes awol

Charity loses R39k event deposit after previous Ritz Hotel management goes awol

The Ritz Hotel is under new management and the money paid to previous management has still not been refunded.

DStv Premium on a downward spiral, warns tech guru

DStv Premium on a downward spiral, warns tech guru

DStv has lost about 140 000 Premium subscribers to Netflix over the past two years, tech expert Arthur Goldstuck.

17-year-old learner killed teacher for not allowing him to jump the food queue

17-year-old learner killed teacher for not allowing him to jump the food queue

Spokesperson for Education department says the fact that this learner is still in Grade 10 at 17 may indicate there is a problem.

Tell me what you want: Study reveals most common sexual fantasies

Tell me what you want: Study reveals most common sexual fantasies

What are your sexual fantasies? Disclosure can bring sexual freedom, but it can also have downsides. A study lists the top trends.