Pressure mounts for Nene to step down, but is it good for the economy?

Pressure is mounting on Finance Minister Nhlanhla Nene to step down following revelations that he met with the Gupta family.

The Finance Minister apologised for what he called gross oversight, saying he was wrong for meeting with the Gupta family at their home instead of meeting them at his office or in a public space.

Political economist at Political Economy Southern Africa Siya Biniza says the biggest challenge is that Nene is scheduled to be giving the mid-term budget speech.

READ: If Nhlanhla Nene survives this then the Pope is not Catholic - political analyst

I think even beyond this, the recently announced stimulus package by the President also seems to be jeopardised by this. It would mean that whoever replaces Nene would have to be brought up to speed.

Siya Biniza, Political Economist at Political Economy Southern Africa

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This article first appeared on 702 : Pressure mounts for Nene to step down, but is it good for the economy?


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