National Treasury said Tuesday investors at a confidence-building roadshow abroad had expressed concerns about the country’s political environment.
Johannesburg Stock Exchange (JSE) CEO, Nicky Newton-King, says investors have again raised major concerns following President Jacob Zuma’s move to recall Finance Minister Pravin Gordhan from an investor trip to London.
The rand plummeted 5% against all major currencies, but briefly picked up after reports that three of the top six in the ANC had warned Zuma it would be a mistake to axe Gordhan.
Newton-King elaborates on Zuma’s call: “Of course they raised concerns because this road show has been long planned, it is a traditional road show that happens after every budget, and the investors were expecting a full slate of meetings from the Minister and his team, and the accompanying delegation. So when we all of a sudden on the morning of the road show have to say we are going to curtail it, it looks unplanned, it is unplanned and it raises questions.”
Calls on Zuma to resign have picked up, especially after former president Kgalema Motlanthe read a letter by the late Ahmed Kathrada at his funeral, pleading with the president to put the country first and step down.
– SABC Radio