The rand took a dive on Monday following confirmation that National Treasury's head of budget Michael Sachs had resigned amid reports of the President's interference in the budgeting office.
Sachs will not be leaving Treasury immediately but will ensure a proper handover to another senior official.
Communications Director of Business Leadership South Africa (BLSA), Themba Maseko, says the organisation is worried about the 'exodus' of experienced individuals from various departments of government.
A shakeup of this nature, we think, sends a wrong signal of instability, not just in National Treasury, but in government.— Themba Maseko , Communications Director at Business Leadership South Africa (BLSA)
If there are indications that there are moves to set up a structure above National Treasury to take up the functions of National Treasury, we will be concerned about that.— Themba Maseko , Communications Director at Business Leadership South Africa (BLSA)
Click on the link below to listen to hear Maseko's take on President Jacob Zuma's denial of state capture....