Malusi Gigaba is Des van Rooyen in a designer suit
4 April 2017
The appointment of the new Minister of Finance, Malusi Gigaba, has been a disaster for the economy of South Africa.
The minister’s first one hundred hours, in what he called the “hot seat”, has been a monumental shambles - the rand tanked, ten-year bond yields spiked and the country was downgraded to “junk status” by Standard & Poors.
This should not come as a surprise considering the minister’s weekend press conference, which was called to “restore confidence and restore calm”, but then proceeded to do exactly the opposite.
He suggested that: