Johannesburg – A Cabinet reshuffle remains imminent and it will have a negative impact on markets as well as the rand, said an analyst.
In a report by Nomura emerging markets economist Peter Attard Montalto explained that a reshuffle is expected in the second half of March. In Nomura’s view there’s a 60% chance of a reshuffle and the Deputy Minister of Finance, Mcebisi Jonas is more likely to be replaced than Finance Minister Pravin Gordhan.
This follows the swearing in of Brian Molefe as a member of Parliament (MP). He was assigned to two committees, international relations and economic development. “We think his placement in certain committees shouldn’t be over-read as to where he may end up in terms of a ministry,” said Montalto.