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South Africa’s Zuma Re-Appoints Former Finance Minister

00241204-c554bc2271faef866d20e96ed12cef3c-arc614x376-w285-us1The drama and financial carnage precipitated by the firing of former Finance Minister Nhlanhla Nene on Wednesday resulted in an unprecedented backpedal by President Jacob Zuma on Sunday night. The presidency announced via an email statement that after receiving “many representations” and “after serious consideration and reflection”, Zuma decided to appoint Pravin Gordhan as Finance Minister and move David van Rooyen to the Cooperative Governance portfolio. The president has been forced into making an embarrassing about-turn and has been exposed as a leader who has lost his grip.

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