Cape Town - International ratings agencies are in town, and apart from another bout of chaos and folly in the National Assembly on Tuesday, they were treated to a very public display of discord and discontent among senior members of government.
This is according to NKC African Economics analyst Gary van Staden in reaction to Finance Minister Pravin Gordhan's response to weekend reports of his alleged arrest.
The Sunday Times claimed in a report that Gordhan faced "imminent arrest" after the Hawks handed a docket to the National Prosecuting Authority (NPA) for his involvement in a so-called rogue unit within the South African Revenue Service (SARS).
In a statement on Tuesday, Gordhan appealed directly to ordinary South Africans to help protect the staff of Treasury. He also indicated that he was under immense pressure regarding the developments around the so-called Sars "rogue unit" that was set up while he was the commissioner of the tax collecting agency.
However, Gordhan re-iterated that he did not act illegally, stating that he is innocent of committing any crimes. He added that he consulted his attorney to chart a way forward.
Van Staden saw Gordhan's reaction as a desperate appeal for help in protecting the country’s democracy from the “manipulation of the law and agencies for ulterior motives”.
He said Gordhan is fighting back by alluding to hidden agendas at the highest level of government and appealing to the public for help in protecting key institutions.
Gordhan’s statement was an "extraordinary
development in an ongoing saga and confirmation of a serious and
potentially catastrophic schism in the ruling party and the government
over control of key institutions of South Africa’s democracy", noted Van Staden.
While the presidency and the NPA denied the alleged arrest of Gordhan, Van Staden said there was no outright denial of the Sunday Times' report.
"The added suspicion that one of the Gupta family members had been a primary source for the leaked claims set off alarm bells and probably prompted Mr Gordhan to take the extraordinary steps he took yesterday hinting strongly at a high-level hidden agenda against him."
NKC African Economics said in their view it is clear that a campaign of intimidation and harassment at this level of intensity of a senior minister responsible for economic and financial stability is not possible without sanction from the highest level.
"Mr Zuma’s disdainful opinion of Mr Gordhan is no state secret nor is the desire of factions in the ANC with self-enrichment agendas to see the back of him. For his part, Mr Gordhan did not mince his words, hide his disappointment at the manner in which he was being hounded by his comrades or tone down his concerns over the nefarious agendas at play and the risks to South Africa’s democracy and financial wellbeing inherent in these plans."