Ex-finance minister Gigaba resigns from cabinet

Gigaba says he is stepping aside for the sake of the country and for the movement to which he belongs.
Malusi Gigaba resigns as home affairs minister. Picture: Waldo Swiegers, Bloomberg

Home Affairs Minister Malusi Gigaba succumbed to pressure to quit after a court found he’d lied under oath and a compromising video of him was circulated on social media.

Gigaba’s exit Tuesday bolsters President Cyril Ramaphosa’s assertion that he’s committed to clamping down on graft and reversing the mismanagement that characterized his predecessor Jacob Zuma’s almost nine-year rule. Gigaba served as Zuma’s public enterprises minister and finance minister, and a group of leading academics alleged that he helped facilitate the looting of state funds by businessmen allied to the former president.

“The president has accepted the minister’s resignation,” Ramaphosa’s office said in a statement. Gigaba took the decision “to relieve the president from undue pressure,” it said.

In February, the High Court found that Gigaba committed perjury when he denied authorising a company owned by the billionaire Oppenheimer family to operate a private immigration terminal at Johannesburg’s main airport. Two higher courts upheld the ruling, and last month anti-graft ombudsman Busisiwe Mkhwebane instructed Ramaphosa to take disciplinary action against Gigaba.

Gigaba, 47, a former head of the ANC’s youth wing who was one of the party’s rising stars, denies any wrongdoing. He did, however, apologise for the video that he says was hacked from his phone and was only meant for his and his wife’s viewing.

Ramaphosa won control of the African National Congress in December and took office two months later after the party forced Zuma to quit. Ramaphosa initially retained Gigaba and several other Zuma appointees in the cabinet in a bid to help heal divisions within the ANC caused by the leadership race.

© 2018 Bloomberg L.P

Get access to Moneyweb's financial intelligence and support quality journalism for only
R63/month or R630/year.
Sign up here, cancel at any time.

COMMENTS   14

You must be signed in to comment.

SIGN IN SIGN UP

Poor Malousie Gigglebaby – Just do a nappy change and he will be cool again – I mean he has not finished his looting spree at the trough yet. !!

His visa regulations borders on treason. Any normal citizen that causes as much damage to the economy will be charged with treason. When an ANC cadre does the same, they call him a hero of the struggle. This why they will be forever struggling.

“The real cost of the State is the prosperity we do not see, the jobs that don’t exist, the technologies to which we do not have access, the businesses that do not come into existence, and the bright future that is stolen from us. The State has looted us just as surely as a robber who enters our home at night and steals all that we love.” – Frederic Bastiat

Premature evacuation?

politicus interruptus …. ?

No, failure to stand up for himself

To me the biggest upside here is CR will now have to finally show his hand with the new appointee. The whole Gigaba episode /tragedy is just another manifestation of the abject failure of cadre deployment and what it’s costing the country long term. Only once government finally decides to employ the very best people we have for positions in central, provincial and municipal government will this country realise its full potential. Appoint talented, committed people in spite of their skin colour, political affiliation, what their hair looks like and if the go to church synagogue or mosque. We still have huge talent in SA. But time is running out.

He will now have all the time in the world to ‘pump his primus stove’, thank goodness. The State must examine which acts of impropriety he is guilty off and in particular his aiding and abetting the Guptas to get documents that allowed them to pillage and strip the assets of the State.

this is the best early x mas present anyone could have hoped for in SA ! onwards tourism , onwards job creation, onwards investment.

gigaba you are a shameful example of exactly what this country does not need….

awesome X-mas present
Well done Cyril

This guy has no shame. He’s not stepping down in anybody’s interests except his own. He’ll now join the anti-Ramaphosa rebellion currently being plotted. Of course he’ll first have to grovel for Zuma’s forgiveness for his betrayal. And last I checked Zuma holds grudges. More disorder and destruction coming thanks to ANC.

He caused Billions to be lost at Eskom and Billions lost due to visa restrictions. How is it humanly possible that one person can wreak so much financial carnage on a country and still be thanked for serving it ? Sometimes I have to pinch myself to see if I am awake. It is mind numbing to reflect on how the ANC has destroyed the economy. Every month I pay my taxes, rates, etc knowing that I might as well be flushing my hard earned money down the toilet. Very disheartening ! Let’s hope this is the darkness before the dawn !

You know the ANC is in serious trouble when Gigaba was/is considered one of their rising stars.

Good riddance to bad rubbish! CR is getting too much credit though. CR is simply along for the ride, holding on for dear life. He has no hand to play. He has no plan. He has no power. He has no integrity (saying one thing to foreign investors and another to the voters). He’s been part of the cabal all along. Non action by CR is still action. This excuse of him biding his time is ridiculous. How would you act if you had a plan, power and integrity? And don’t confuse this resignation with Gigaba falling on his sword! The sword was waiting for him, in the corner, where he backed himself into through purging himself.

End of comments.

LATEST CURRENCIES  

USD / ZAR
GBP / ZAR
EUR / ZAR

Podcasts

NEWSLETTERS WEB APP SHOP PORTFOLIO TOOL TRENDING CPD HUB

Follow us:

Search Articles:Advanced Search
Click a Company: