The SA Institute for Race Relations has described President Jacob Zuma's instruction to the finance minister and his deputy to cancel their overseas trip as a power play by faction of the ruling party.
The Presidency issued a statement on Monday in which it confirmed that Finance Minister Pravin Gordhan and his deputy Mcebisi Jonas had been instructed to cancel their attendance at an international investment promotion roadshow to the United States.
- BREAKING: Zuma orders Gordhan to return from 'unauthorised' UK roadshow, cancels Jonas US tripTreasury officials confirmed to Business Day that preparations were being made for the possible cancellation of the US leg of the tour.
"IRR analysts believe the move to be a political power play by factions of the African National Congress (ANC) aligned with the President‚ and what is loosely described as the Eastern Bloc of that party‚" the IRR said in a statement.
"The move is designed to publicly humiliate and weaken the so-called Western Bloc of the ruling party that is aligned with the Deputy President and the Minister of Finance."
- OPINION: If we can’t afford free tertiary education‚ we can’t afford to change finance ministersWith Monday's news that President Jacob Zuma is calling Finance Minister Pravin Gordhan back from an investment roadshow in the UK‚ there has been some speculation about whether this means he plans to reshuffle the ministry.
It said that depending on how markets react to the move‚ it could be a precursor to the axing of Gordhan and a broader cabinet reshuffle.
"Should such a reshuffle occur in favour of the Eastern Bloc of the ANC‚ this may lead to significant swings in government policy on investment protection‚ property rights and fiscal prudence."
- TMG Digital
Just R20 for the first month. Support independent journalism by subscribing to our digital news package. 