Finance Minister Malusi Gigaba has the world on his shoulders.
Earlier this week he had to put out fires after Sunday Times published an opinion piece written by his advisor Professor Chris Malikane.
In the article Malikane proposes a new economic plan that includes the “expropriation of white monopoly capital establishments such as banks, insurance companies, mines and other monopoly industries to industrialise the economy”.
Gigaba has since distanced himself from the piece.
On Wednesday, Gigaba said he expects to appoint a new director-general (DG) of Treasury by the end of May, which he hopes will bring further assurances of stability within the sector.
The minister is currently attending World Bank and International Monetary Fund meetings in the United States to assure investors of South Africa’s unchanged economic path.
He will also meet rating agency Moody’s.
The Money Show’s Bruce Whitfield interviewed Standard Bank Chief Economist Goolam Ballim.
Listen to the interview in the audio below (and/or scroll down for quotes from it).
The internal crisis in South Africa has come at a time of an incredibly benign external environment.— Goolam Ballim, Standard Bank
Finance Minister Gigaba’s endeavours will only have limited effect, because the elephant in the room is the President.— Goolam Ballim, Standard Bank
Minister Gigaba is a subtext in the play.— Goolam Ballim, Standard Bank
The Finance Minister is going to have to show that he can assemble people with gravitas.— Goolam Ballim, Standard Bank
Enter your email address in the form below to receive a newsletter containing the most-read articles of the week from Bruce Whitfield’s The Money Show every Friday morning in your inbox.
Ray White (on The Money Show) interviews Standard Bank Incubator Jayshree Naidoo.
All is not well with the economy. We live in crazy times. Here’s how to protect your investments and finances…
The history of General Electric is the history of electric lighting and after 125 years they may be selling it.
Bruce Whitfield interviews Finance Minister Malusi Gigaba's advisor Chris Malikane and Business Leadership SA's Bonang Mohale.
He had been seen as crucial to maintaining stability at the Treasury after Gigaba replaced Gordhan as minister.
Arabile Gumede interviews KPMG Senior Economist Christie Viljoen.
How did Ngebulana build his empire? The Money Show’s Bruce Whitfield interviewed him for his weekly “ShapeShifter” feature.
The broadened bill will see those who lose their jobs receive money for a longer period when they apply for unemployment benefits.
"Recognise that it’s not the end, it’s the beginning." Expert advise for school-leavers who want to improve their results.
National Student Financial Aid Scheme says it will reopen 2017 loan applications after receiving requests for deadline extension.
Bruce Whitfield interviews a Portfolio Manager about what she believes are the hottest stocks right now.
WIN R2000! But only if you can prove you're a whiz of the MTN Biz Quiz by answering the following three questions...
Is social trend Blesserfinder, where girls are allegedly matching up with rich 'benefactors' in exchange for sex, a real thing?