Gordhan and seven others face the axe

SPECULATION is mounting that Finance Minister Pravin Gordhan and his deputy, Mcebis Jonas are about to be axed from the cabinet.

And a well-placed source told Independent Media at least six additional cabinet ministers and deputy ministers could follow Jonas and Gordhan through the exit door.

Yesterday, the Presidency recalled Gordhan from London, where he was trying to woo investors to South Africa.

National Treasury confirmed that the minister was on his way back and would land in South Africa today.

Jonas would also no longer undertake the second leg of the visit to the US.

The rand slumped 2 percent at the news that Gordhan and Jonas had been recalled.

Our source said: “This is the end of the road for Gordhan and Jonas”

“Zuma is confident,” he said. If he wields the axe in such a forthright manner, it can mean only one thing: that he is unchallenged in both the national executive committee and in the cabinet, and that he has side-lined people like Gwede Mantashe and Cyril Ramaphosa.

“Things have been going well for the president in run-up to national leadership elections for the ANC later this year: Nelson Mandela Bay was won by a pro-Zuma follower, Andile Lungisa, (even though he was subsequently ordered to relinquish the post). Zuma has also received backing in eThekwini, in KwaZulu-Natal.

Our source added: “Zuma only acts when he knows he will win, when he has everything in place. a cabinet reshuffle would be an indication that his opponents cannot touch him.”

The key question ahead of a reshuffle is who will replace Gordhan? It was said more than a year ago that ANC MP Sfiso Buthelezi would get the post, but nothing subsequently materialised.

Then, the swearing in of former Eskom boss Brian Molefe as an ANC MP last month, again fuelled speculation that Gordhan was on his way out.

But although the relationship between Gordhan and Zuma are said to be frosty at best, the president chose to bide his time before making his move.

Banking Association of South Africa (Basa) asked Zuma to act in the interests of the country.

“Another potential outcome of this action could be a consideration by rating agencies to downgrade South Africa to sub-investment grade status. This would be very negative for banks and other corporates, whose ratings would follow the sovereign,” it said.

“We appeal that the Presidency and all critical stakeholders act in the best interests of the country by avoiding precipitate actions that have significant negative impact on economic growth and social development,” said Basa.

Other ministers who could face the chop include Derek Hanekom at Tourism.

Faith Muthambi at Communications was expected to be moved to another portfolio. Fikile Mbalula is expected to be promoted, while Police Minister Nathi Nhleko could also be shifted to another portfolio.

Opposition parties yesterday slammed Zuma for his decision to recall Gordhan from the international investor roadshow.