Keeping Nene as finance minister is the right economic decision - economist

It is business as usual at the office of Finance Minister Nhlanhla Nene despite his resignation drama.

The minister is expected to travel to Indonesia on Tuesday to represent South Africa at the annual meeting of the International Monetary Fund (IMF) and the World Bank.

Senior research fellow and political economist at Trade Collective, Lebogang Pheko says keeping Nhlanhla Nene as Finance Minister is the right economic decision because he is competent and has managed the countries finances effectively, more so than other ministers.

Read: 'I have no sympathy for Nhlanhla Nene, he knew exactly what he was doing'

The dilemma is what should be done ethically and what should be done in terms of the right economic decision are quite dissimilar. The right decision, in my opinion, is actually to keep the man on.

Lebogang Pheko, Political Economist at Trade Collective

The ethical dilemma is that he met with the Guptas, it doesn't matter whether they met at their home or at McDonalds the point is that the optics of that are very problematic.

Lebogang Pheko, Political Economist at Trade Collective

Pheko says this matter should be located within the context of a broader ethical paradigm because there are other ministers who also have met with the Guptas.

Now, trade union federation Cosatu has also joined the EFF in calling for Minister Nene to resign.

Mike Shingange, Cosatu first deputy president, says Nene should step aside and allow the country to focus on rebuilding the economy.

We can't afford to have someone like him (Nene) to defocus the country for this process.

Mike Shingange, Cosatu first deputy president

Shingange says they do not question Nene's credibility as finance minister but rather his ethics, because at the time when everyone was coming out telling the truth about meeting the Guptas he decided to keep quiet about it until now.

We don't know what else he hasn't disclosed to the country and what else he is being lying about, that's the main issue we having with him.

Mike Shingange, Cosatu first deputy president

Shingange says President Ramaphosa hasn't said anything about Nene but they are making a call for him to do the right thing and axe him because "the country has entered an era of accountability and transparency".

To hear the rest of the conversations listen below:


Recommended

by NEWSROOM AI
Read More
'I have no sympathy for Nhlanhla Nene, he knew exactly what he was doing'

'I have no sympathy for Nhlanhla Nene, he knew exactly what he was doing'

Callers on the Eusebius McKaiser Show reflect on Finance Minister Nhlanhla Nene's testimony at the Zondo Commision.

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

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

Political Economist Siya Biniza says the biggest challenge is that Nene is scheduled to be giving the mid-term budget speech.

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

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

Rumour has it that Finance Minister Nhlanhla Nene has asked president Cyril Ramaphosa to relieve him of his duties.

Should Nene go? Here's what SA's political heavyweights have to say

Should Nene go? Here's what SA's political heavyweights have to say

Views from UDM leader Bantu Holomisa, DA's Phumzile Van Damme, BLF president Andile Mngxitama, EFF'S Floyd Shivambu and others.

[LISTEN] Lindiwe Mazibuko, Refilwe Moloto, Rose Rogers on this week's hot topics

[LISTEN] Lindiwe Mazibuko, Refilwe Moloto, Rose Rogers on this week's hot topics

Politician Lindiwe Mazibuko, economist Refilwe Moloto, and journalist Rose Rogers discussed the biggest talking points this week.

'Social media users are not buying Nene's apology'

'Social media users are not buying Nene's apology'

Eyewitness News reporter Barry Bateman shares the latest on the Finance Minister's state capture inquiry testimony.

Is it time to remove Nhlanhla Nene from the good guy's list?

Is it time to remove Nhlanhla Nene from the good guy's list?

Political analyst Xolani Dube says Nene's apology is an admittance that he misled society and lied under oath.

 Nene credibility called into question over son's PIC involvement

Nene credibility called into question over son's PIC involvement

Sabelo Skiti says Nhlanhla Nene's son asked the PIC to fund a major investment, S&S Refineries.

Popular articles
News24 exposes how big SA corporates are funding fake news

News24 exposes how big SA corporates are funding fake news

A News24 investigation has exposed how some of South Africa's biggest companies have been advertising on fake news websites.

Zille open to renaming Robben Island swim after 'nation-builder' Theo Yach

Zille open to renaming Robben Island swim after 'nation-builder' Theo Yach

Premier Helen Zille describes Yach as one of the most generous, warm, open-hearted and community-driven people she's ever known.

[Watch] SA choir stuns with isiZulu cover of Ed Sheeran’s ‘Shape of You’

[Watch] SA choir stuns with isiZulu cover of Ed Sheeran’s ‘Shape of You’

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

[WATCH] Man exposes people selling stolen goods on Facebook

[WATCH] Man exposes people selling stolen goods on Facebook

Anton Fourie says he used his phone to record the interaction to create awareness of what is going on in the community.

Zondi tells court that she had to 'look happy' in church out of fear for Omotoso

Zondi tells court that she had to 'look happy' in church out of fear for Omotoso

Cheryl Zondi is testifying against Pastor Timothy Omotoso who is accused of rape and human trafficking in his Durban church.

Funny Cape fashionista Nadia Jaftha making waves with her mom

Funny Cape fashionista Nadia Jaftha making waves with her mom

Fashion blogger Nadia Jaftha takes fans through her serious love of style, as well as her silly moments with sidekick mom, Nawal.