Minister of Finance Pravin Gordhan arrives with members of the National Treasury to present his 2016 Budget Vote Speech in the National Assembly on February 24, 2015 at Parliament in Cape Town, South Africa. Gordhan that he will be cutting government expenditure while still making R870-billion available for infrastructure development. (Photo by Gallo Images / The Times / Ruvan Boshoff)
The Presidency has confirmed that President Jacob Zuma has instructed Finance Minister Pravin Gordhan and his deputy, Mcebi Jonas, to immediately return back to the country from an international investor road show hosted by National Treasury.
“President Jacob Zuma has instructed the Minister of Finance, Mr Pravin Gordhan and Deputy Minister Mcebisi Jonas to cancel the international investment promotion roadshow to the United Kingdom and the United States and return to South Africa immediately,” Zuma’s spokesman Bongani Ngqulunga said in a terse statement.
The Daily Maverick reported on Monday that Treasury received written authorisation from Zuma’s office to embark on the investor roadshow. However, the authorisation was rescinded by the Presidency without providing any reasons.
The abrupt cancellation of the trip has fueled fresh speculation that Zuma might be ready to reshuffle his Cabinet following weeks of rumours that an imminent shakeup to his executive team might be on the cards.
Gordhan and Jonas, including Treasury’s director-general, Lungisa Fuzile, and business and labour representatives were expected to embark on a non-deal international investor roadshow this week.
The delegation was supposed to spend two days in London (March 27 and 28), one day in Boston in the United States (March 29), and two days in New York (March 30 and 31), according to a statement by Treasury on Saturday.
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