UASA welcomes pres. Cyril Ramaphosa’s Cabinet appointments as announced last night.
Particularly pleasing was that he kept his promise to reduce the size of Cabinet and also that 50% of the appointees are women.
We trust the new Cabinet is a step in the direction of regaining South Africa’s investment grade status. The state of government finances and the sustainability of government debt remains a risk to the stability of the South African financial system and is one of the main potential determinants of further sovereign credit-rating downgrades. Standard & Poor’s kept the country's sovereign credit rating unchanged at below investment grade last weekend, while Moody’s has a stable outlook, meaning a full downgrade may not be imminent.
The appointment of Thembelani Nxesi as Labour and Employment Minister gives UASA and other labour organisations an opportunity to engage with someone who will bring new ideas to the table. We welcome him to the ministry and we are sure we will work closely with him.
We are also pleased to have Gwede Mantashe back as Minister of Minerals and Energy. Mantashe has expert knowledge of the sector and can play a decisive role taking it to a prosperous future.
Finance Minister Tito Mboweni and Public Enterprises Minister Pravin Gordhan retained their previous roles. They have mammoth tasks ahead of them and to move them from their positions would have countered the work they are currently busy with. The critical challenge of growing our economy and stabilising our SOEs needs stable, experienced and incorruptible hands
With his new Cabinet, President Ramaphosa shows us that he is serious about weeding out the corrupt and putting South Africa on the path of recovery.
The State of the Nation Address on 20 June will shed more light on the finer details of how Ramaphosa intends to take the nation into the future.
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