Business lauds the return of Nene and Gordhan

CAPE TOWN- Business leadership South Africa (BLSA) has welcomed the economic cluster changes President Cyril Ramaphosa has introduced into hid cabinet.

Bonang Mohale CEO of BLSA has said the reintroduction of Pravin Gordan as public enterprise minister, after Ramaphosa axed Lynne Brown and Nhlanhla Nene back as finance minister, Mohale said these steps are towards boosting confidence, restoring growth and creating jobs.

Mohale said the familiar faces give the markets and economy a “steady hand” with the hope that these new minsters will deal with state capture and corruption.

He added, “Most importantly, it will facilitate the efforts to address the governance, leadership and capital structures of the SOEs,”

Mineral Resources Minister Mosebenzi Zwane has been removed and the BLSA is pleased with this decision, because these ministers  including Lynne Brown and others are facing state capture allegations.

Mohale commented on Manatshe appointment as the new mineral resources, he said,

“Although he has no direct experience in government, Gwede Mantashe has an intimate knowledge of the mining sector and is an astute negotiator – two attributes that are critical to resolving the current impasse around the formulation of the mining charter,” Mohale.

“We hope his appointment will help position the industry to take advantage of the next upswing in commodity prices.”

Photo Credit- BizNews

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