PODCAST | Unpacking the cabinet reshuffle and what it will mean for SA and its economy

Our host Mudiwa Gavaza is joined by Chris Hattingh, deputy director at the Free Market Foundation, an economic research and policy think-tank.

After a week of speculation around possible changes to some portfolios, President Cyril Ramaphosa made sweeping changes to cabinet and the national executive, including the replacement of finance minister Tito Mboweni with ANC economic head Enoch Godongwana.

Hattingh says Ramaphosa looks firmer and more confident in his presidency as he took political control of the intelligence portfolio into his own office, scrapping the ministry of state security. Former deputy minister of intelligence Zizi Kodwa, a trusted Ramaphosa ally, will be responsible for intelligence.

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The reshuffle is Ramaphosa’s first since coming into office in 2019 and follows two weeks of violence and looting which shook the country and rattled investors. It includes changes across the board, swapping or bringing in new ministers to 10 portfolios.

Hattingh says while many of the changes show an intention to deliver on the president’s economic promises, yet to be delivered, the real test will be how the appointees execute their roles.

He also noted changes made to the tourism, communications and energy portfolios as those to watch, given their contribution to SA’s GDP.

Discussion points include:

• background on the Free Market Foundation and its areas of work;
• new government appointments made in the recent reshuffle by Ramaphosa;
• what the appointments tell us about the president’s likely economic direction;
• what impact the reshuffle will have on SA’s investment case, given domestic pressure to grow and international concerns about the safety of capital locally;
• SA’s place in the global economy; and
• issues affecting its place as a trading partner.

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