JOHANNESBURG, South African opposition political parties have blamed President Jacob Zuma’s Cabinet reshuffle as the reason for the country’s credit rating being downgraded this week to Junk status by international rating agency Standards and Poors (S and P), saying the reshuffle was reckless.
“It’s now happened. Clearly, there is no confidence in international markets in (new Finance minister Malusi) Gigaba and most notably, his ties to the Guptas (the wealthy business family alleged to have links to the president). So, I think its bad news for South Africa and for the economy,” says John Steenhuisen, the Chief Whip of the Democratic Alliance (DA), the country’s biggest opposition party.
Floyd Shivambu of another leading opposition party, the Economic Freedom Fighters (EFF), says the country risks losing the value of its currency and compares the situation now with that in Zimbabwe. He adds that the only solution is to remove Jacob Zuma as president.
The United Democratic Movement (UDM) concurs. “We are reiterating a call we’ve been making over the past few years that the time has come to remove President Zuma from the Office of President. Clearly, he’s leading the country astray and destroying the economy,” says the party’s Nqabayomzi Kwankwa.
“We must lay the blame squarely at the door of President Zuma and his reckless decision to reshuffle the Cabinet and replace Finance Minister (Pravin) Gordhan and Deputy Finance Minister Jonas. Enough is enough,” says the African Christian Democratic Party’s (ACDP) Steve Swart.
Source: NAM NEWS NETWORK