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Why is this happening?

19 May 2016, 08:01  - Joyce.Jagaroo

THE Hawks have their daggers out for the Finance minister. This can be tracked back to when Pravin Gordhan was a commissioner of the South African Revenue Services (SARS).

Allegations of him knowing about a suspected rogue unit within SARS, which he is denying, seems to be the bone of contention. When Gordhan was reinstated as minister of Finance, he stopped all restructuring at SARS, thereby causing a rift between him and present commissioner Tim Moyani, who is a close friend of the president.

There could also be a possibility that political undertones are at play, with the intention to oust the minister who has a tight rein on the public finances.

Billions of rands were wiped out of the Johannesburg Stock Exchange when Des van Rooyen was unexpectedly installed as the new minister of Finance, replacing the experienced Nhlanhla Nene. This decision sent the rand into free-fall as investors took their money out of SA to invest in markets outside SA that are stable and secure.

This caused even more hardships to many people already living below the bread line. When the government toys with rash decisions that impact negatively on the lives of millions of people, the question that needs to be answered is why is this happening?

The two centres of power, being the government and the Hawks, need to find common ground to find a lasting solution to this tense impasse. Recent reports in newspapers stating that the arrest of Gordhan is imminent, which the government has denied, is not good for our economy and country. It is incidents such as these that leave foreign investors in a quandary as to whether their investments would be safe in SA.

If an amicable solution is not forthcoming between the Hawks and Gordhan, the rand and the economy will continue to slide.



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