The position of finance minister has controversially passed through three pairs of hands over the space of four days. Here is a timeline of how those few days that left the economy reeling played out:
Sunday:
- Zuma re-appoints Co-operative Governance Minister and former finance minister Pravin Gordhan to position of finance minister.
- Van Rooyen is appointed co-operative governance minister.
- Zuma says, "I have received many representations to reconsider my decision. As a democratic government, we emphasise the importance of listening to the people and to respond to their views.”
- The rand recovers almost 80c to the US dollar following the announcement - this is a recovery of R15.09/$ from R15.89.
- UDM leader Bantu Holomisa calls for Zuma to be recalled, saying, "It's clear President Zuma has lost control. He is actually panicking beyond comprehension as we speak."
- Other opposition parties, such as the Democratic Alliance say Zuma is playing "Russian roulette with the country’s economy", while the Economic Freedom Fighters says, "Effectively, the country has had three finance ministers in one week... If anyone still does not think we are in a Banana Republic, they cannot be helped."
TIMELINE: How South Africa got three finance ministers in four days
Sunday:
- Zuma re-appoints Co-operative Governance Minister and former finance minister Pravin Gordhan to position of finance minister.
- Van Rooyen is appointed co-operative governance minister.
- Zuma says, "I have received many representations to reconsider my decision. As a democratic government, we emphasise the importance of listening to the people and to respond to their views.”
- The rand recovers almost 80c to the US dollar following the announcement - this is a recovery of R15.09/$ from R15.89.
- UDM leader Bantu Holomisa calls for Zuma to be recalled, saying, "It's clear President Zuma has lost control. He is actually panicking beyond comprehension as we speak."
- Other opposition parties, such as the Democratic Alliance say Zuma is playing "Russian roulette with the country’s economy", while the Economic Freedom Fighters says, "Effectively, the country has had three finance ministers in one week... If anyone still does not think we are in a Banana Republic, they cannot be helped."
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