• All Share : 51949.83
    DOWN -1.42%
    Top40 - (Tradeable) : 45425.59
    DOWN -1.45%
    Financial 15 : 14728.46
    DOWN -1.49%
    Industrial 25 : 68217.66
    DOWN -1.87%
    Resource 10 : 32458.44
    DOWN -0.45%

  • ZAR/USD : 13.7225
    DOWN -1.37%
    ZAR/GBP : 17.7746
    DOWN -1.24%
    ZAR/EUR : 15.4221
    DOWN -1.08%
    ZAR/JPY : 0.1349
    DOWN -1.60%
    ZAR/AUD : 10.5042
    DOWN -1.05%

  • Gold US$/oz : 1315.9
    DOWN -0.30%
    Platinum US$/oz : 1025
    UP 0.10%
    Silver US$/oz : 19.15
    UP 0.31%
    Palladium US$/oz : 720
    UP 0.98%
    Brent Crude : 49.06
    UNCHANGED0.00%

  • All data is delayed by 15 min. Data supplied by Profile Data
    Hover cursor over this ticker to pause.

Sun Oct 02 00:20:58 SAST 2016

Zuma thinks markets are 'weird people in a dark room', says Herman Mashaba

Genevieve Quintal | 19 January, 2016 10:34
Herman Mashaba. File photo.
Image by: Sunday Times

President Jacob Zuma seems to think the markets are "weird people in a dark room with computers", the DA's Johannesburg mayoral candidate Herman Mashaba has said.

"[Zuma said] that the markets are over-exaggerated. Does he understand who the markets are? For him the markets are some strange character, sitting in a dark room with computers manipulating the world," Mashaba told News24.

"Now this is the man who is leading this modern economy. This is the man that's leading the economy that's... got the potential to be the shining light for Africa and the world and look at where this economy is today."

The night Zuma announced he was removing Finance Minister Nhlanhla Nene pushed Mashaba to enter politics. This was the final nail, he said.

Made myself available

"I got really angry and immediately made up my mind and called the DA saying 'guys I'm making myself available'.”

In December, Zuma faced a backlash after he announced that he was replacing Finance Minister Nhlanhla Nene with ANC MP Des van Rooyen.

There was a public outcry and calls for Zuma to be recalled over the move, which saw the rand reach record lows. Four days after the announcement, Zuma backtracked, replacing Van Rooyen with respected former finance minister, Pravin Gordhan. The rand recovered somewhat.

Mashaba said the economy was getting worse and he felt it was time to step up and for people to start being active citizens.

"Let's put our bodies on the line and stop this ANC train from derailing us.

"The ANC government would not like active civil society, they will not like to have a civil society that can give them terms because they have this impression that they doing us a favour by servicing us," he said.

Source: News24

SHARE YOUR OPINION

If you have an opinion you would like to share on this article, please send us an e-mail to the Times LIVE iLIVE team. In the mean time, click here to view the Times LIVE iLIVE section.