South Africa’s official opposition party, the Democratic Alliance is agitating that President Jacob Zuma must explain his bizarre recall of Finance Minister and his deputy from the international finance investment roadshow they embarked upon.
DA insinuated that President Zuma instructed Pravin Gordhan and Mcebisi Jonas to cancel the international finance roadshow just to humiliate the minister or hint that he’s about to fire the minister in a cabinet reshuffle.
A media statement the Presidency issued about Zuma’s recalling of the Ministers didn’t specify why. It merely said:
“President Jacob Zuma has instructed the Minister of Finance, Mr Pravin Gordhan and Deputy Minister Mcebisi Jonas to cancel the international investment promotion roadshow to the United Kingdom and the United States and return to South Africa immediately.”
Reacting to the statement from the Presidency, David Maynier MP – DA Shadow Minister of Finance – indicated that Zuma’s instruction to the Finance Minister and his deputy is “a major setback for the economy in South Africa.”
“The fact that President Jacob Zuma has instructed the Minister of Finance, Pravin Gordhan, together with the Deputy Minister of Finance, Mcebisi Jonas, to cancel their international investor roadshow and return to the country immediately is a major setback for the economy in South Africa.
“The instruction to cancel the international investor roadshow without explanation is so bizarre that it appears, at best, calculated to humiliate the minister or, at worst, to suggest that the minister is about to be fired in a cabinet reshuffle.
“Whatever the case the instruction to cancel the international investor roadshow could not have come at a worse time as the minister battles to restore investor confidence among international investors in one of the financial capitals of the world,” stated the DA Shadow Minister.
With that, DA asserted that President Zuma must provide a public explanation for instructing the Minister of Finance and his deputy to cancel their international investor roadshow and immediately return to South Africa.
Meanwhile, the Finance Minister has disclosed that he’ll obey Zuma’s instruction and return to South Africa this evening.
Reports have it that Yolisa Tyantsi, the spokesperson of the Treasury confirmed that arrangements are being made to get the minister back to South Africa.
BuzzSouthAfrica gathered that Gordhan told Reuters that he hasn’t been recalled by Zuma but was just “asked to come back home.” When he was asked if Zuma would reshuffle Cabinet, he reportedly said: “That’s the boss prerogative.”
It was on the 25th of March that the National Treasury disclosed that Gordhan, Jonas, Director General Lungisa Fuzile, key National Treasury officials, Business and Labour will embark on a non-deal international investor roadshow.
The delegation planned to spend two days in London (27 – 28 March), one day in Boston (29 March) and two days in New York (30-31 March).
As informed, the finance investment roadshow was necessitated by the extensive engagements by senior National Treasury officials with domestic investors following the tabling of the 2017 Budget by the Minister of Finance.
While the Treasury specified that it has a consistent and long-standing strategy of engaging investors on a regular basis, it offered that the purpose of the non-deal international investor roadshow is to provide an update on the most recent developments, engage constructively with investors and share government’s thinking behind its’ latest policy proposals.