'Unless ministers change their ways, the economy will remain the same'

President Cyril Ramaphosa has finally announced the team of men and women to lead his administration for the next five years.

He has delivered on his promises by reducing the number of Cabinet ministers from 36 to 28.

Pan-African Investment CEO Dr Iraj Abedian says the new Cabinet 'looks good' because their capabilities are known, but adds that unless they change their ways the economy won't change.

Read: Ramaphosa announces his new Cabinet, De Lille makes the team

There is nothing new in them. They have been there for a long time time, they've done certain things, they have taken specific views and with that, the economy went down.

Dr Iraj Abedian, CEO - Pan-African Investment

Now they've been reappointed and unless they do things differently, we are going to get more of the same thing and that is the concern that I have.

Dr Iraj Abedian, CEO - Pan-African Investment

Nedbank chief economist Dennis Dykes says he is happy that there is continuity in certain portfolios, the reappointment of Pravin Gordhan and Tito Mboweni.

Read also: Cabinet announcement: 'Ramaphosa promised there won’t be any tainted ministers'

I think the issue is will these ministers really drive investment? Will they be business friendly, will, therefore, be economic growth and job creation because that's what is required. We need radical changes.

Dennis Dykes, Chief economist - Nedbank

Dykes says he is disappointed by the appointment of Ebrahim Patel as minister of Trade and Industry because he is just a unionist. He would have preferred someone with business knowledge.

He is also not impressed with changes in the Department of Energy because there were measures in place to solve the energy crisis in the country and now there might be disruptions.

We will have to wait and see if Gwede Mantashe will drive the same agenda which is critical for energy security and keeping energy prices in check.

Dennis Dykes, Chief economist - Nedbank

Abedian believes that not having a minister with a clear vision and background on energy is a huge concern.

He might surprise us by bringing technical people in and listens rather than dictate.

Dr Iraj Abedian, CEO - Pan-African Investment

To hear the rest of the conversation, listen below:


This article first appeared on CapeTalk : 'Unless ministers change their ways, the economy will remain the same'


Recommended

by NEWSROOM AI
Read More
[LISTEN] ANCYL's Njabulo Nzuza 'excited' over Cabinet appointment

[LISTEN] ANCYL's Njabulo Nzuza 'excited' over Cabinet appointment

The African National Congress Youth League general-secretary has been handed the position of deputy minister of home affairs.

Ramaphosa announces his new Cabinet, De Lille makes the team

Ramaphosa announces his new Cabinet, De Lille makes the team

President Cyril Ramaphosa says he has reduced the number of ministers from 36 to 28.

Ramaphosa announces new Cabinet

Ramaphosa announces new Cabinet

The president is addressing South Africans on the composition of the National Executive from the Union Buildings.

[LISTEN] Cosatu 'happy' with talks over Cabinet

[LISTEN] Cosatu 'happy' with talks over Cabinet

President Cyril Ramaphosa is set to address the nation on the composition of his Cabinet.

Cabinet announcement: 'Ramaphosa promised there won’t be any tainted ministers'

Cabinet announcement: 'Ramaphosa promised there won’t be any tainted ministers'

Bruce Whitfield asks Mahlatse Mahlase (Editor-In-Chief at EWN) what he expects from the Cabinet announcement at 8:00 pm.

'Moving Lesufi to the  finance portfolio is a positive acknowledgement'

'Moving Lesufi to the finance portfolio is a positive acknowledgement'

Political analyst professor Somadoda Fikeni looks at Premier David Makhura's executive council appointments for Gauteng Cabinet.

Will Mkhwebane's report stop Ramaphosa from appointing Gordhan?

Will Mkhwebane's report stop Ramaphosa from appointing Gordhan?

Constitutional law expert Pierre de Vos looks at the battle between the Public Protector and former public enterprise minister.

'Until found otherwise, Ramaphosa isn't barred from appointing Gordhan'

'Until found otherwise, Ramaphosa isn't barred from appointing Gordhan'

Political analyst Lesiba Teffo says Gordhan is one of the president's trusted candidates and should be appointed to Cabinet.

Party politics hinders Ramaphosa from announcing his Cabinet, says Dirk Kotze

Party politics hinders Ramaphosa from announcing his Cabinet, says Dirk Kotze

The political scientist says the president is under immense pressure to announce his Cabinet.

'I want to see the number of dead bodies reduced and jobs created'

'I want to see the number of dead bodies reduced and jobs created'

New community safety MEC Albert Fritz says he wants to see the silo mentality in the Western Cape eradicated.

Popular articles
Steenhuisen voted DA's interim leader, Meyer chosen as interim federal chair

Steenhuisen voted DA's interim leader, Meyer chosen as interim federal chair

John Steenhuisen and Makashule Gana were both gunning for the DA's top position left vacant following Mmusi Maimane's resignation.

SAA doesn't have cash flow to pay unions what they want, says airline exec

SAA doesn't have cash flow to pay unions what they want, says airline exec

Thousands of SAA workers, including cabin crew, technical and ground staff, began striking on Friday to demand higher pay.

Karatbars – is it a scam? The case for and against…

Karatbars – is it a scam? The case for and against…

Bruce Whitfield interviews senior Karatbars representatives, a financial advisor and someone who was invited to its conference.

We have bent over backwards, it appears unions don't want to settle - SAA

We have bent over backwards, it appears unions don't want to settle - SAA

Sacca president, Zazi Nsibanyoni-Anyiam Mugambi and airlines acting CFO Deon Fredricks weigh in on the strike facing the airline.

Can’t find your phone? Drop everything – thieves can get into your banking app!

Can’t find your phone? Drop everything – thieves can get into your banking app!

Did someone steal your phone? Contact your bank without hesitation warns consumer journalist Wendy Knowler.

'Unions are making a mistake. SAA is dying. It’s not Eskom – we don’t need it'

'Unions are making a mistake. SAA is dying. It’s not Eskom – we don’t need it'

SAA is on its knees, cap in hand, asking taxpayers for R2 billion this month. Unions must be careful, warns Guy Leitch (SA Flyer).

White pupils at posh Kingswood College refer to black scholars as 'snoobab'

White pupils at posh Kingswood College refer to black scholars as 'snoobab'

"This problem is bigger than just a Kingswood problem. The relevant processes will unfold," says College Head Colleen Vassiliou.

Investors need to understand redress and sensitivities, says Eusebius

Investors need to understand redress and sensitivities, says Eusebius

Eusebius engages callers on the Richard Branson tweet that has been widely criticised for lacking diversity.