How Zuma's nuclear option would hit the economy
Top business leaders warn of dire economic consequences should Zuma fire Gordhan
This is a shortened version of the Financial Mail cover story. To read the full story and other premium content, click here to subscribe By NATASHA MARRIAN, CLAIRE BISSEKER, MARC HASENFUSS, STAFFORD THOMAS AND ROB ROSE On Monday night, President Jacob Zuma told the top five leaders of the ANC, who had gathered at Luthuli House in Jo’burg, that he planned to fire finance minister Pravin Gordhan and his deputy, Mcebisi Jonas. The party’s top officials — Cyril Ramaphosa, Jessie Duarte, Gwede Mantashe, Zweli Mkhize and Baleka Mbete — were shocked. After all, it was barely 15 months since Zuma had torpedoed the rand and burnt SA’s credibility by axing then-finance minister Nhlanhla Nene. Surely not again, they must have thought. Mantashe apparently put up the strongest resistance to Zuma’s move. Ramaphosa and Mkhize raised their voices too. Jannie Durand, CEO of Johann Rupert’s investment giant Remgro, seemed despondent. "Unfortunately (Nelson Mandela’s) legacy and the country that he le...
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