Gordhan’s axing broke the business community’s trust in Zuma, Bonang Mohale says
President Jacob Zuma and the ANC have broken the business community’s trust after he recalled former finance minister Pravin Gordhan from an investment road show in the UK and then fired him in a Cabinet shuffle, the head of Business Leadership SA (BLSA) said. The exit of Gordhan as finance minister in March prompted two of the three main credit ratings agencies to cut the assessment on SA’s foreign-currency debt to junk, thwarting more than a year of co-operation between business and the government to avoid such an outcome, Bonang Mohale, the CEO of BLSA, which represents about 80 of the country’s biggest companies, said in an interview in Johannesburg last week. "Often when we talked about the trust deficit, we always pointed the finger at business, but this time, we honestly know that there is a lack of trust because it was broken by the president," said Mohale, a former chairperson of Royal Dutch Shell’s South African unit. "The more the ANC does everything in its power to prote...
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