Newly-appointed Finance Minister Pravin Gordhan sought to allay fears about the economy on Monday, hours after being re-appointed.
He was South Africa's third finance minister in less than a week.
“Government is aware of the impact that this has had on those who have invested in us,” he told reporters in Pretoria.
He was speaking after being reappointed to post, which he held between 2009 and 2014. On Wednesday, President Jacob Zuma replaced Finance Minister Nhlanhla Nene with ANC MP David van Rooyen.
The move sent the markets and the rand into a tailspin. On Sunday, Zuma bowed to pressure and moved Van Rooyen to the ministry of cooperative governance and traditional affairs.
“Our humble appeal is for South Africans to work with us. We understand it is our duty to continuously earn the confidence and trust of South Africans. Trust is not something that is given, but it has to be earned,” Gordhan said.
He sought to calm the fears that have gripped the nation regarding investments. He said government would continue to make investments that favoured the poor.
“We will stay on course for sound fiscal management. We will always act to protect pensions. We are also going to intensify co-operation with the private sector,” he said.
Trust has to be earned - Gordhan
He was South Africa's third finance minister in less than a week.
“Government is aware of the impact that this has had on those who have invested in us,” he told reporters in Pretoria.
He was speaking after being reappointed to post, which he held between 2009 and 2014. On Wednesday, President Jacob Zuma replaced Finance Minister Nhlanhla Nene with ANC MP David van Rooyen.
The move sent the markets and the rand into a tailspin. On Sunday, Zuma bowed to pressure and moved Van Rooyen to the ministry of cooperative governance and traditional affairs.
“Our humble appeal is for South Africans to work with us. We understand it is our duty to continuously earn the confidence and trust of South Africans. Trust is not something that is given, but it has to be earned,” Gordhan said.
He sought to calm the fears that have gripped the nation regarding investments. He said government would continue to make investments that favoured the poor.
“We will stay on course for sound fiscal management. We will always act to protect pensions. We are also going to intensify co-operation with the private sector,” he said.
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