BUSINESS DAY TV: If execs at Treasury stay, I will have total faith in the department
Cas Coovadia is Banking Association SA (Basa) MD. BUSINESS DAY TV: The actions of President Jacob Zuma in firing the finance minister and deputy finance minister have put the country into turmoil and are not in the best interests of SA. That’s the view of Banking Association SA MD Cas Coovadia in a strongly worded statement out this morning. Coovadia says Zuma’s actions undermine the progress made in the last 18 months towards rebuilding confidence in the country and he joins us now. Cas … so of course those actions 18 months ago were sparked by the president firing the previous finance minister, Nhlanhla Nene. Do you think the market will be less forgiving this time around? CAS COOVADIA: Yes, the market will probably be less forgiving because of the progress we’ve made in the last 16 months or so. So in the last 16 months after the appointment of [Finance] Minister [Pravin] Gordhan and the formation of the CEO Initiative, investors that we met, ratings agencies that we met, we told...
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