Zuma defends decision to axe Gordhan

Zuma defends decision to axe Gordhan

President Jacob Zuma has defended his decision to fire former Finance Minister Pravin Gordhan, saying changes made to the National Executive are expected to add new energy to the various portfolios.

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Photo: GCIS

President Zuma congratulated the new ministers and said government is proud to have many young ministers which he described as "an investment" for the future of government leadership. 

"If we don't enable our young MPs to gain experience now, we may battle in future with leadership and governance experience within the national executive," said Zuma. 

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President Zuma was speaking at the launch of the Trans African Locomotive in Pretoria this morning.

The locomotive is the first ever train that has been designed, engineered and manufactured by Transnet and will serve the African continent.

Last week, President Zuma reshuffled his cabinet by replacing Gordhan with former Minister of Home Affairs Malusi Gigaba.

International Markets reacted negatively to the President's decision, with rand losing value to the subsequent downgrade on South Africa's economy.

Standard and Poor (S&P) downgraded South Africa's crediting rating yesterday, to a BB+.

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