How will Gigaba get South Africa out of this mess?

2017-04-13 06:00

JACOB Zuma has done it. He’s made history —brought South Africa down on its knees to junk status. Overnight the rand plummeted.

Zuma and all his merry men and women can now celebrate this remarkable achievement, pop Champagne bottles and sing and dance. What a proud achievement for Speaker of House Baleka Mbete, Naledi Pandor, Nkosazana Dlamini-Zuma fresh from her African conquest, and the ANC Youth League.

Of course, the downgrading is a small matter for the president. But he should try convincing fickle investors that South Africa is a good, safe country under him for their investment. Even if the rating agencies are biased against Third World countries, they wield enormous power in the global investment markets. Zuma is small fry against them.

Hours before Standard and Poor made its announcement, the new Finance Minister, Malusi Gigaba, a Zuma loyalist, said he believed that one man alone [Pravin Gordhan] cannot cause a downgrade.

Now we’ll see his true worth, how he takes the country out of this financial dilemma.

As for Zuma, he sleeps well. Nothing bothers him.

How much more harm must he do before the ANC acts against him?

T. MARKANDAN

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