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Nene dismissal shocking, ill-timed - Cosatu

Cape Town – The removal of Nhlanhla Nene as finance minister was shocking, disconcerting and ill-timed, according to trade union federation Cosatu.

The economic cluster did not cope well with abrupt and unqualified changes, it said in a statement.

Cosatu was the first member the tripartite alliance to openly question the sudden removal of Nene from office, who has been replaced by David van Rooyen.

"Whilst we appreciate and respect that our Constitution gives the president the powers to make changes to the cabinet, we feel that the decision was ill timed," Cosatu said.

Abrupt changes created uncertainty, it said.

"Our economy is unfortunately globalised and we cannot ignore the realities that come with operating in such an environment. Minister Nene was an approachable and an engaging minister, who was forever prepared to discuss issues, even if he disagreed with people."

With the economy on its knees and job losses across sectors, Nene was needed.

"The unemployment rate is going through the roof and the blight of capital flight is back in full swing. To manoeuvre this economic minefield and smooth transition, we needed the stability, continuity and the experience that Cde Nhlanhla Nene provided."

Cosatu said the decision was discomforting, but wished the new minister luck in his new position.

"The new minister should also be firm and decisive in freezing the nuclear procurement deal, that is not only unnecessary and dangerous, but that is unaffordable. That deal needs to be properly discussed in a very transparent manner."

The country did not need another "arms deal", Cosatu said.

"We expect courage, innovation, prudence and clarity from the new Finance Minister.

"He must also intensify the demand for transparency and accountability from parastatals like South African Airways, Prasa and others that are mired in controversial transactions, using the taxpayer’s money.

"He should also ensure that the Treasury intensifies its fight against corruption and wasteful expenditure at the state level."

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