Gordhan: Electing President Jacob Zuma has been a mistake

JOHANNESBURG – Former Finance Minister Pravin Gordhan says the country’s economy is in turmoil distress because of the poor leadership in the person of president Jacob Zuma.

Gordhan was speaking to executives in a business school masterclass in Johannesburg on Tuesday night.

He said that electing Jacob Zuma was the worst mistake that South Africans has ever done, adding that with a good leadership the country could recover economically.

“You hope that leadership would be able to bring about the kind of changes that are necessary to indeed serve in the national interest, to unify people on a different basis, and more assertively challenge poverty, inequality and unemployment in South Africa. On reflection, it was the wrong decision.”

The former finance minister also lashed out at auditing firm KMPG for throwing away its values and dealing with the controversial Gupta family.

“While KPMG has done a huge amount of damage to my former colleagues at Sars, to the point where they had to lose their jobs and their livelihood and still have to work out every single day where the next income is actually going to come from, on the other side of the equation they seem to have assisted the Gupta companies for over seven or eight years to engage in all sorts of funny transactions. Let’s put it at that level for now,” said Gordhan in a firm voice.

Gordhan also urged executives present to act in the national interest so as to promote sustainable socio-economic development in South Africa, a term he coined “corporate activism”.

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