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be­fore the sur­prise re­moval of Nh­lanhla Nene as fi­nance min­is­ter, Trea­sury of­fi­cials ex­pressed con­cern about what they char­ac­terised as an in­creas­ingly in­hos­pitable political en­vi­ron­ment for Trea­sury to ex­er­cise con­trol and over­sight in. There was a shared sense that Trea­sury’s au­thor­i­ta­tive role in the hi­er­ar­chy of the state was un­der threat. The re­turn of Pravin Gord­han as fi­nance min­is­ter, how­ever, con­firmed this hi­er­ar­chy can­not be so eas­ily over­turned.

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