Gordhan axing intensifies ‘total state capture’ notion - Fedusa | Fin24
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Gordhan axing intensifies ‘total state capture’ notion - Fedusa

Mar 31 2017 15:24

Cape Town – Pravin Gordhan’s removal as Finance Minister intensifies the notion that the process of total state capture has now been set firmly in motion.

That is according to Federation of Unions of South Africa (Fedusa) general secretary Dennis George, who was meant to join Gordhan in London on his investor roadshow on Tuesday.

In a statement on Friday, George said Fedusa “is deeply disappointed and outraged with the manner in which President Jacob Zuma has handled the Cabinet reshuffle”.

READ: OUTA seeks legal action on Gordhan axing

The union federation is calling on Zuma to resign with immediate effect.

“The timing of the axing of Gordhan and the manner in which it has been done couldn’t have come at a worse time for our country,” said George.

“It is now a matter of public record that Gordhan was abruptly recalled from an overseas trip this past weekend, where he was leading a top National Treasury (delegation) to avert a sovereign downgrading to junk status and attract much-needed foreign direct investment into our economy.

“The firing of Pravin Gordhan as finance minister simply intensifies the notion that the process of total state capture has now been set firmly in motion.

“The timing of the media release announcing the Cabinet reshuffle at midnight on Friday essentially serves to highlight the real intent by the presidency.

“We regret the reshuffle completely as it only reaffirms all aspects of state capture we have been highlighting as Fedusa since our sixth National Congress in November last year.

“The long-term economic stability as well as the strength of our currency will be now placed in jeopardy if a motion of no confidence is tabled against President Zuma in Parliament and the South African Communist Party (part of the Tripartite Alliance) sticks to its threat to recall all ministers from Cabinet if President Zuma fires Gordhan.

READ: Gordhan axing: Why the rand is remarkably calm

George said Zuma did not learn a lesson from December 9 2015, when he appointed an unknown MP as finance minister.

“(This) created a major economic predicament, and resulted in approximately R500bn being wiped from the South African pension funds of workers,” said George.

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