‘Don’t doubt, I’m capable’
Gigaba says displeasure is not about his ability
New Finance Minister Malusi Gigaba has appealed to society to have faith in his capabilities that he will steer this crucial ministry.
Gigaba has so far received a lukewarm reception, with many questioning if he was capable of doing the job.
President Jacob Zuma removed former minister of finance Pravin Gordhan on Friday morning.
The move has resulted in ratings agency Standard & Poor’s downgrading SA’s long-term foreign currency sovereign credit rating to junk status.
Yesterday, Gigaba called a press briefing in Pretoria to allay fears that this downgrade signalled the worst for the country’s economy.
He said he took the downgrade seriously and was reacting to it accordingly.
His deputy Sfiso Buthelezi, who replaced Mcebisi Jonas, and director-general Lungisa Fuzile were at the briefing.
The team had just met Gordhan for a handover process. “We will take whatever assistance from our predecessors.
“Not only the most immediate predecessor, but if comrade Trevor Manuel, comrade Nhlanhla Nene call and say here’s a piece of advice and we think it is worth listening to and even accepting, we’ll accept it. But also don’t doubt our capability. Don’t doubt it.”
Gigaba said the protestation about Gordhan’s removal was not a vote of no confidence in him. He said protesters were not happy about the way Zuma removed Gordhan and not the quality of replacements.
“I’m not resigning. I’m not going anywhere. I have a job [to do]. I have been assigned by … the president of the country.”
Buthelezi said the ministry will focus on inclusive growth of the economy. This meant empowering black people more. “One fact which we can’t deny is that South Africa is among the most unequal societies in the world … unequal societies are the most unstable societies in the world. So, … that would have a negative impact on investments.”