Investors would prefer the appointment of an internal candidate to head SA’s Treasury as the incumbent steps down after six years, because this would maintain stability in managing the country’s finances, analysts said. Lungisa Fuzile asked to leave his director-general position in May, a year before his contract expires. He said he made the request before President Jacob Zuma fired Pravin Gordhan as finance minister on March 31. Fuzile, who is widely respected, said he would leave due to family reasons. When Gordhan and deputy finance minister Mcebisi Jonas were replaced by legislators with no Treasury experience, both S&P Global Ratings and Fitch Ratings downgraded the country’s debt to junk, on concern about policy continuity and political instability. The President feuded with Gordhan about the management of state-owned companies and spending on a planned nuclear programme, which the former finance minister said the country could not afford. "If there is any possible chance of d...

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