3 analysts (and former GP Premier Mbhazima Shilowa) discuss new Finance Minister
The Money Show’s Bruce Whitfield interviewed Dr Adrian Saville, Chief Strategist for Citadel, about the consequences of the sacking of Finance Minister Nhlanhla Nene.
He also interviewed Edward Kieswetter, Group Chief Executive of Alexander Forbes, who commented on former Finance Minsiter Nene's removal.
In addition, Whitfield played the following clips:
An edited version of new Finance Minister (and former Merafong mayor) David van Rooyen's first speech after he was sworn in.
An interview by 702’s John Robbie of Mbhazima Shilowa, former Premier of Gauteng, about what he thought of the appointment. Shilowa did not know Van Rooyen personally but did cross his path while he was still Merafong Mayor.
An interview by 702/CapeTalk presenter Redi Tlhabi of Business Day Editor Songezo Zibi on his concerns about this appointment.
Scroll down for quotes from the audio below.
We want to demystify some of the myths surrounding this department. It must be accessible.Finance Minister David van Rooyen
Nene had a very big mountain to climb. Zuma’s decision makes the task even bigger.Dr Adrian Saville, Chief Strategist for Citadel
There is populist rhetoric in the new Minister’s speech.Dr Adrian Saville, Chief Strategist for Citadel
The market’s reaction is a very clear vote of no confidence.Dr Adrian Saville, Chief Strategist for Citadel
You may add an extra percent to inflation due to the impact on our currency. The poorest South Africans will feel the most pain.Dr Adrian Saville, Chief Strategist for Citadel
He can’t have been appointed for his competency.Mbhazima Shilowa, former Premier of Gauteng
South Africans are finally going to wake up to what it means to have a bad government.Business Day Editor Songezo Zibi
We’re telling the world that we’re a banana republic.Business Day Editor Songezo Zibi
Minister Nene has done a sterling job under difficult circumstances.Edward Kieswetter, Group Chief Executive of Alexander Forbes
This is the end of a lineage. For the first time we have discontinuity.Edward Kieswetter, Group Chief Executive of Alexander Forbes
The markets are punishing the rand.Edward Kieswetter, Group Chief Executive of Alexander Forbes