SA Minister of Finance vs The President- Week 2

SOUTH AFRICA - In Brief 29 Aug 2016 by Iraj Abedian
During the past week, the SA political economy scene has been the stage for a high level drama, unfolding episode by episode in full view of the nation. The main actor, the Minister of Finance; the script writers, it is believed to be, the President and his men. The goal, it appears, is none other than the ultimate control of the National Treasury. The President's men need this in order to re-capitalize the depleted balance sheets of state-owned enterprises (SOEs) such the SA Airlines, underwrite a trillion rand Nuclear Power Project, and a few smaller but not insignificant other projects. Collectively, these will bankrupt the Treasury for a few years to come. Minister Gordhan has held the fiscal line, stood firm and placed clear and strict conditions on all such expenditure items. That has brought him to the front line of the fight against corruption and the predator capitalists close to the President. The most well known of the predators is the Gupta family, and their diverse business interests in the country. Minister of Finance has declared war on such abuses of fiscal resources, and the President's men have been hatching a plot to get rid of him in the forthcoming Cabinet reshuffle.Meanwhile, following a poor showing by the ANC Alliance in the recent local government elections(3 August 2016), President Zuma has lost much political gravitas, and some of his key and staunch allies have abandoned him. Over the past 48 hours, the SA Communist Party (SACP) and SA National Civic Organisation (SANCO) have publicly dropped support for President Zuma. Within the ANC itself, there is a renewed, open and vigorous momentum aiming at containing President Zuma's powers in the s...

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