ANC welcomes Gigaba's appointment

The African National Congress has reiterated its confidence in new Finance Minister Malusi Gigaba.

"The ANC has full confidence in the newly appointed minister of Finance‚ comrade Malusi Gigaba and the deputy minister Sfiso Buthelezi. We will offer them our unequivocal support in executing the budget that was tabled by comrade Pravin Gordhan following approval by Cabinet and through going consultations‚" said ANC Secretary General Gwede Mantashe.

He was addressing members of the media at the party's headquarters on Wednesday afternoon‚ following the ANC's extended national working committee meeting.

President Jacob Zuma axed former Finance Minister Pravin Gordhan and his deputy‚ Mcebisi Jonas‚ stating that he could no longer foster a working relationship with them.

He subsequently replaced them with Gigaba and Buthelezi respectively.

During the briefing‚ ANC Deputy Secretary General Jessie Duarte revealed that the party's top brass had been informed by Zuma in November last year about his decision to axe Gordhan.

However‚ during his reshuffle‚ Zuma stated that a so-called intelligence report prompted his decision to fire Gordhan and Jonas‚ ministers who have been described by many as competent leaders.

The report allegedly contained details about how Gordhan and Jonas‚ had met with forces with an intention to overthrow the South African government. - TMG Digital