Last night, President Jacob Zuma announced that David van Rooyen would be removed as Finance Minister to be replaced by Pravin Gordhan who held the position from 2009 – 2014.
Van Rooyen was sworn in only four days ago, making him the shortest serving minister in South Africa’s history.
Zuma said in a statement, ‘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. In this regard, I have, after serious consideration and reflection, taken the… decision.’
Gordhan’s reinstatement had an immediate effect on the rand, which recovered by 80c after the announcement. However, South Africans were left confused about the bizarre shuffling which resulted in us having three finance ministers in less than a week.
Here are some of our favourite reactions:
#VanRooyenDidntEven get to give HR his banking details so his salary can be deposited
— @Mandla (@Mandla8210) December 14, 2015
#VanRooyenDidntEven get a chance to say TGIF
— DonovanGoliath (@DonovanGoliath) December 14, 2015
— Marida Fitzpatrick (@MaridaFitz) December 13, 2015
van rooyen:”so what time must I be at the office tomorrow morning?” zuma: pic.twitter.com/p2AhZ34cu1
— jaymanji (@JayDils) December 13, 2015
“Just for the weekend, ne.” pic.twitter.com/xMWSjqtTQ6
— Lester Kiewit (@lesterkk) December 13, 2015
10/12: Yesterday afternoon, President Jacob Zuma announced that he was removing Finance Minister Nhlanhla Nene from his position, after less than two years in the role.
After the announcement, the value of the rand dropped to an all-time low of over R15 to the dollar – something that is reportedly directly linked to the removal of Nene as Finance Minister.
The president did not give a reason for Nene’s removal or provide any background on the newly appointed, relatively unknown David van Rooyen, who used to be a finance committee member in parliament.
Financial analysts say that the shuffle in the Cabinet causes uncertainty which in turn causes investors to panic. South Africans reacted on Twitter, pointing out their disappointment.
Zii Right iiCitizens? pic.twitter.com/NBv0u3M7rP
— Gugulethu Mhlungu (@GugsM) December 10, 2015
Put the Rand in Rice. Put the Rand in Rice
— Impi isesendeni (@fistvoices) December 9, 2015
Rand dropped 80c to the dollar in the last few hours. Might as well change all the Christmas sales to closing down sales tomorrow — Ranjeni Munusamy (@RanjeniM) December 9, 2015
— Ulrich J van Vuuren (@UlrichJvV) December 10, 2015