'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
DA to decide if Herman Mashaba will serve his notice period or get cut loose

DA to decide if Herman Mashaba will serve his notice period or get cut loose

It's reported that some senior members of the Democratic Alliance want Mashaba's membership terminated with immediate effect.

'Audit found Mango and Comair planes were signed off by unqualified persons'

'Audit found Mango and Comair planes were signed off by unqualified persons'

The South African Civil Aviation Authority explains some of the findings of its maintenance audit at SAA Technical.

'I want to ensure my money delivers change to as many people as possible'

'I want to ensure my money delivers change to as many people as possible'

Black Business Council president Sandile Zungu on his attitude toward money (hopes and fears, successes and failures, etc.).

'Mbete faced difficult questions. She has done a lot in terms of responding'

'Mbete faced difficult questions. She has done a lot in terms of responding'

Xolani Xala (SA Business Abroad) defends his defence of ANC stalwart Baleka Mbete’s "car crash" interview on Al Jazeera.

[WATCH] Oprah roasts student about his cracked phone, then buys him a new one

[WATCH] Oprah roasts student about his cracked phone, then buys him a new one

Khabazela shares tweets and Facebook posts that have gone viral.

Why Vestact is buying Discovery (JSE), Long4Life (JSE) and Booking.com

Why Vestact is buying Discovery (JSE), Long4Life (JSE) and Booking.com

Portfolio Manager Byron Lotter shares his stock picks of the week with Bruce Whitfield on The Money Show.

[LISTEN] What you need to know about new revenge porn laws

[LISTEN] What you need to know about new revenge porn laws

A person found guilty of so-called 'revenge porn' could now face up to four years in prison or a fine of up to R300,000.

[WATCH] Toddler upset that mom didn't give him a goodbye kiss, is so adorable

[WATCH] Toddler upset that mom didn't give him a goodbye kiss, is so adorable

Khabazela shares tweets and Facebook posts that have gone viral.

[WATCH] Boy explaining what he heard when parents had sex goes viral

[WATCH] Boy explaining what he heard when parents had sex goes viral

Khabazela shares tweets and Facebook posts that have gone viral.