Why Nene was fired - Zuma

In a statement, Zuma said the urgency of the change in leadership of the National Treasury was “occasioned by the need to send nominations to Shanghai, of the head of the African Regional Centre of the New Development Bank/BRICS Bank, to be based in Johannesburg”.
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BS
Funny the other nominations was done back in June already.

I am pleased to announce that Cabinet has endorsed the nomination of Mr. Leslie Maasdorp as Vice President of the BRICS New Development Bank (NDB) and Mr. Tito Mboweni has been appointed as the Non-Executive Director to the Board of the BRICS New Development Bank.
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Source
 
Vrotappel said:
Admitting you are wrong is difficult ne comrade?
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Only when one isn't actually wrong. ;)

Though since you want to speak about wrongness, how about you reply to the post you so wanted from me @ the ABI truck thread, hmm? :whistle:
 
Zuma may have explained why Nenen was fired ..... but the issue is why van Rooyen was hired.

There were a host of better candidates, and Nene is gone - so he is irrelevant in this discussion.
 
Who advises this oxygen and tax money thief? So, now he comes out and tries to explain because he sees the fallout, arrogant piece of dung
 
Critics discard Zuma's explanation for axing Nene

JOHANNESBURG – President Jacob Zuma's explanation for firing Nhlanhla Nene as the finance minister has been described as desperate, disingenuous and scraping the bottom of the barrel for an excuse to quell public outcry.

Zuma broke his silence on the announcement to replace Nene with Member of Parliament David van Rooyen in a statement saying the change does not signal a shift in the government’s fiscal position.

The president explained Nene's axing as a move to send him to Shanghai as the country's nomination for the head of the African Regional Centre of the BRICS bank.
Political analysts and economists have slammed Zuma's explanation saying it’s too little too late.

Political analyst Ralph Mathekga says he is being disingenuous and is firing the person who has been upholding fiscal prudence in the country.
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More at:http://ewn.co.za/2015/12/12/Critics-discard-Zumas-explanation-for-axing-Nene
 
Zuma's theme tune this month:

Now watch me whip
Now watch me Nene
 
Xarog said:
Citation please @ Russian junk status pl0x.

Edit: And if you care about South Africa in any way shape or form you best hope that the BRICS bank isn't a disaster because it's literally the only prayer the country has at this point.
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Where are countries that are junk status already going to find money to lend to other countries
when their own economy is in the toilet already.?
Besides why are we going to rely on the BRICS bank when the problem is staring us in the FACE.
 
Massive investment from China could help. The question is, does China want to invest in SA? They're investing all other the place already and their aim is Europe anyway to export there.
 
China is very clever.
Stealth mode colonialism.
Lend the money and when we cant pay it back we have to hand over something in exchange.
We will become so desperate to do do business with China that we will bow to all their whims.
 
Fuzzbox said:
China is very clever.
Stealth mode colonialism.
Lend the money and when we cant pay it back we have to hand over something in exchange.
We will become so desperate to do do business with China that we will bow to all their whims.
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Everyone is doing business with China. UK is currently so in love with China.
 
The whole world is doing business with China.
The UK econony has not dropped through the floor overnight.
The UK are able to pay their bills.
What does our future look like?
 
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Fuzzbox said:
China is very clever.
Stealth mode colonialism.
Lend the money and when we cant pay it back we have to hand over something in exchange.
We will become so desperate to do do business with China that we will bow to all their whims.
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what they want? zuma? anc? take them, no return / refund. ;)
 
Fuzzbox said:
Where are countries that are junk status already going to find money to lend to other countries when their own economy is in the toilet already.?
Besides why are we going to rely on the BRICS bank when the problem is staring us in the FACE.
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Zuma's a real problem, but he's not the only problem.

If you take a look at stock markets around the world, the vast majority of them lost major value this year. The Dollar's day as reserve currency is numbered; Russia, China and India have all been adding hugely to their gold reserves lately.

The question is not so much what the world's financial outlook is today, it's what it's going to look like once the debt bubble starts its inevitable cascade failure. The world will return to some form of gold standard, mark my words. And when that happens the economies of Russia and China will look a whole lot more rosey than they might look today.

The "West" has written us off as a political/economic enemy because of our association with BRICS. Our bed has been made, we're going to have to lie in it, and I would hope the bed is made well enough that we get to wake up the next morning.

The reason that the whole junk rating for Russia's economy was such a joke is because their debt to GDP ratio is one of the lowest on the planet.

As for China, you should take a close look at their Silk Road policy. It seems as if all those idle cement factories are going to be used to build the crap out of other countries for a few years. Maybe with an intelligent president we could even come up with a few projects that China would fund that would provide lasting benefits to South Africans everywhere for decades to come.

Note: I think the nuclear deal we signed with Russia is highly suspect though. I think Putin bamboozled numba wun and the whole thing needs to go back to the drawing board if it happens at all.
 
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