DA worried about Tito’s radical economic transformation views

The Democratic Alliance (DA) shadow finance minister, David Maynier, says his party welcomed the appointment of the new Finance Minister Tito Mboweni but was worried about his radical thoughts on the economic transformation and nationalisation of banks.

However, the DA was confident that with Mboweni’s experience, he would be able to hit the ground running.

Despite having been plucked from political obscurity and appointed as the new finance minister, he would be able to do the job and was “at least known to market participants, ratings agencies and international financial institutions, who closely follow events in South Africa”.

“However, we are concerned that during the years that he was out in the political cold, he often came over on social media, at least, as a little loony, posting content that seemed to be at odds with government policy like this,” Maynier said

The DA MP also posted a tweet Mboweni published recently in which he called for the state to do four things, including owning 40% of the mining companies, start a state bank, implement appropriation land use planning and create a sovereign wealth fund.

“What is difficult, that is radical economic transformation,” Mboweni said. – Eric Naki

He often came over on social media as a little loony ... at odds with government policy. David Maynier DA shadow finance minister