Finance Minister Malusi Gigaba: Here’s How The Young Minister Plans To Run The National Treasury


South Africa’s new Finance Minister Malusi Gigaba set the record straight when he specified that he has no plans to change administrative leadership at the National Treasury.

Gigaba made this known shortly after the new Cabinet members took their oath of office at the Presidential Guest House. Following the ceremony led by Judge Sisi Khampepe‚ Gigaba told reporters that his priority would be to stabilize the economy which he acknowledged is his key responsibility.

“My priority right now is to stabilise the economy‚ to calm the markets and to continue engaging with different stakeholders as I have started doing today‚” said Gigaba.

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He made it clear that shifting people around at Treasury is not part of his agenda. Moreover, he’s not planning to bring in new people to replace those who had worked with the former minister Gordhan and his deputy Jonas.

“National treasury is an important position and I will not act in this position, in any manner that will jeopardise both the integrity of the department as well as the interests of the South African nation,” Gigaba told journalists.

He said he was looking forward to working with the current administration. In other words, he has no intention of bringing in his own team.


“The leadership of the department is there. The changes in the national executive do not of necessity mean there should be changes in the administration. I cannot foresee what individual members of the administration are going to decide. I met with them this afternoon‚ and I reassured them of my support‚ my leadership and my reliance on them‚” added Gigaba.

While he has promised to work with the present administration to ensure the economy is in a good state, Finance Minister Malusi Gigaba emphasized that he’s not out to fill his predecessor’s shoes. Instead, he promised to use his experience in the government to run things his own way.

“I’m not going to fill anybody’s shoes. I have my own shoes that I’m wearing. I understand the responsibility with which I have been entrusted. I am not new to government. I have been in government for 13 years now and I have also served for four years in the portfolio of public enterprises. I am not new to the economic sector‚” a confident Gigaba told reporters.

Finance Minister Malusi Gigaba

Gigaba was appointed alongside other ministers and their deputies after a late night cabinet reshuffling announced by President Jacob Zuma.