Zuma recalls Nene as finance minister

The Presidency has announced that Finance Minister Nhlanhla Nene has been ‘removed’ from his Cabinet post.

According to the statement, he will be deployed to "another strategic position".

702 and CapeTalk presenters Gugs Mhlungu and Sizwe Dhlomo spoke to an economist, Xhanti Payi, about the financial markets' reaction to the news.

Listen to the interview below:

If we wake up in the morning and traders don’t understand why this decision has been made, then the reaction will be negative.

Xhanti Payi, economist

Below is a chart that reflects the movement of the rand:


Investing.comForex Charts powered by Investing.com

Recommended

by NEWSROOM AI
Read More
Meet the woman striking the gender balance in the energy sector

Meet the woman striking the gender balance in the energy sector

Noxolo Kahlana believes there are many opportunities for women in the energy sector and encourages women to jump on the bandwagon.

Should heads of state make public their health status?

Should heads of state make public their health status?

Following speculations on the health of Nigerian President Buhari, Gugs and Sizwe ask why head of states hide when they are sick.

A steep price tag may not always constitute a good bed

A steep price tag may not always constitute a good bed

702's Gugs and Sizwe chat to UCT sleep researcher about how much time and energy should go into choosing the right bed.

Suicide is prevalent among business owners - insurance advisor

Suicide is prevalent among business owners - insurance advisor

Karina Namhing, Director at Nam Inc analyses the reason insurance companies are reporting high suicide rates in 2016.

Nene 'stops Myeni in her tracks', rejects SAA's Airbus deal

Nene 'stops Myeni in her tracks', rejects SAA's Airbus deal

Finance minister Nhanhla Nene has issued a stern warning to the Board of South African Airways over the controversial Airbus deal.

What are the expectations of Nene ahead of the mid-term budget address?

What are the expectations of Nene ahead of the mid-term budget address?

Where you won't miss a thing.

Popular articles
[WATCH] Can you do the Thuso Phala and Vosho as well as this little boy?

[WATCH] Can you do the Thuso Phala and Vosho as well as this little boy?

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

'I’ve never invested in the stock exchange. I know it too well'

'I’ve never invested in the stock exchange. I know it too well'

Bruce Whitfield interviews Prof Lorenzo Fioramonti (UP) about his attitude toward money (hopes, fears, successes, failures, etc.).

Magashule has never taken responsibility for anything says Mxolisi Dukwana

Magashule has never taken responsibility for anything says Mxolisi Dukwana

Dukwana accuses Magasshule of taking him to Saxonwold and asking him to sign a project over to the Guptas for R2 million a month.

Judge in Omotoso case dismisses defence application to recuse himself

Judge in Omotoso case dismisses defence application to recuse himself

Judge Mandela Makaula has dismissed the defence application saying it has no merit.

'As long as I'm mayor, I'm not going to sit back and watch criminals take over'

'As long as I'm mayor, I'm not going to sit back and watch criminals take over'

City of Johannesburg Executive Mayor Herman Mashaba says criminals cannot be allowed to threaten service delivery in the city.